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Share Name | Share Symbol | Market | Type |
---|---|---|---|
FARO Technologies Inc | NASDAQ:FARO | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.19 | 1.11% | 17.34 | 17.07 | 17.67 | 17.73 | 17.10 | 17.36 | 232,697 | 01:00:00 |
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Florida
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0-23081
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59-3157093
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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o
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Base salary
- Dr. Raab’s base salary of $775,000 will continue until his retirement date.
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Short
-
term incentive plan
- Dr. Raab will be eligible to participate in the Company’s short-term incentive plan for 2019 with a target payout of 100% of his base salary conditioned upon the Company’s achievement of the 2019 financial targets approved by the Company’s Compensation Committee. In the event Dr. Raab’s retirement occurs prior to the end of 2019, he will be eligible to receive this incentive without pro ration. The payout to Dr. Raab under the Company’s short-term incentive plan could range from 0% to 200% of his base salary depending upon the Company’s achievement of its 2019 financial targets.
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Long
-
term incentives -
In lieu of an annual grant of stock options and in consideration for Dr. Raab’s commitment to provide transition assistance to his successor for a period of six months following his retirement date, on January 9, 2019, Dr. Raab received a grant of 24,606 restricted stock units, which will vest six months following his retirement date. In addition, all of Dr. Raab’s outstanding unvested stock options will fully vest as of his retirement date, and he will be permitted to exercise such options over the full term of each option grant.
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Exhibit
Number
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Description
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10.1
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99.1
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FARO Technologies, Inc.
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January 10, 2019
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/s/ Jody S. Gale
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By:
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Jody S. Gale
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Its:
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Senior Vice President, General Counsel & Secretary
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1 Year FARO Technologies Chart |
1 Month FARO Technologies Chart |
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