Hexcel Corporation Discloses Terms of Equity Compensation for Its New President

November 10, 2009 1:59 PM EST

STAMFORD, Conn.--(BUSINESS WIRE)-- Hexcel Corporation (NYSE: HXL) today announced that in connection with the appointment of Mr. Nick L. Stanage as President of Hexcel effective yesterday, November 9, 2009, Mr. Stanage was granted a sign-on equity award in the form of restricted stock units. Hexcel makes this disclosure pursuant to the Corporate Governance Standards of NYSE Rule 303A.08.

Mr. Stanage was awarded 83,963 restricted stock units, which will vest and convert into shares in equal amounts on each of the first, second and third anniversaries of the date of grant, which was November 9, 2009. The RSUs will vest upon death, termination due to disability, or upon a change of control. If Mr. Stanage's employment terminates for any other reason, all unvested RSUs are forfeited.

Hexcel Corporation is a leading advanced composites company. It develops, manufactures and markets lightweight, high-performance structural materials, including carbon fibers, reinforcements for composites, prepregs, honeycomb, matrix systems, adhesives and composite structures, used in commercial aerospace, space and defense and industrial applications.

    Source: Hexcel Corporation

Related Categories

Press Releases

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?