EXECUTIVE COMPENSATION (CONTINUED)
Treatment of PCRS Awards. Under the terms of the Performance Contingent Restricted Stock (PCRS) and
escrow agreements under which PCRS were granted, in the event of a change in control, the restrictions on unvested PCRS will lapse. The amounts set forth in the table for PCRS reflect the number of PCRS for which vesting would be accelerated
multiplied by the closing price of our Common Stock on May 31, 2017, the last business day of fiscal 2017.
Treatment of SERP Restricted
Stock. Under the terms of the 2007 Restricted Stock Plan and the 1997 Restricted Stock Plan, in the event of a change in control, the restrictions on SERP restricted stock will lapse. The amounts set forth in the table for restricted stock
reflect the number of shares of
restricted stock for which vesting would be accelerated multiplied by the closing price of our Common Stock on May 31, 2017, the last business day of fiscal 2017.
Excise Taxes. The employment agreements provide that to the extent that any payment or distribution by the Company for the benefit of the executive would be
subject to any excise tax imposed on the executive under Section 4999 of the Internal Revenue Code, the executive will be entitled to a lump sum payment, or gross-up, equal to the amount of any excise tax
imposed on the executive under Section 4999 of the Internal Revenue Code, or any similar state or local tax law, and any taxes, interest or penalties incurred with respect thereto.
RPM International Inc. (NYSE: RPM) owns subsidiaries that are world leaders in coatings, sealants, building materials and related services. From homes to precious landmarks worldwide, their brands are trusted by consumers and professionals alike to protect, improve and beautify. Among its leading consumer brands are Rust-Oleum, DAP and Zinsser. Learn more about RPM brands >>
RPM is a compelling long-term investment.
The percent by which RPM's 10-year total return has bested the S&P 500. More reasons >>
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