Herc Holdings Inc. announced a new compensation plan for its Chief Operating Officer, Aaron D. Birnbaum, as disclosed in a recent Form 8-K filing. On May 15, 2025, the company's Compensation Committee granted special retention equity awards valued at $1 million. The awards comprise 50% restricted stock units (RSUs) and 50% performance stock units (PSUs). The RSUs are set to fully vest on the third anniversary of the grant date. Meanwhile, the PSUs will vest on December 31, 2027, contingent upon meeting specific performance criteria. These criteria include Average Return on Invested Capital $(ROIC)$ and Average REBITDA margin, weighted at 40% and 60%, respectively. The terms align with the company's standard award agreements previously filed with the Securities and Exchange Commission.
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