L.B. Foster Approves Retirement Compensation Agreement for Executive Brian H. Kelly
L.B. Foster Company has announced new retirement compensation terms for Brian H. Kelly, its Executive Vice President and Senior Advisor to the CEO, who will retire effective December 31, 2025. Under the Retirement Agreement approved by the Compensation Committee, Mr. Kelly will receive accelerated vesting of his outstanding restricted stock awards and pro-rata vesting of his performance share unit awards, to be paid if performance goals are met. He will also be eligible for payment of any earned awards under the Performance-Based Stock Award Retention Program and Strategy Transformation Plan, as well as the annual cash incentive bonus for 2025, contingent on company performance. Additionally, Mr. Kelly will receive his accrued balance under the company's supplemental executive retirement plan.
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