Hilton Grand Vacations Files 8-K on Officer Changes
Ticker: HGV · Form: 8-K · Filed: Mar 8, 2024 · CIK: 1674168
Sentiment: neutral
Topics: corporate-governance, executive-appointments, filing
TL;DR
HGV filed an 8-K detailing leadership changes and compensation. Stay tuned for details.
AI Summary
Hilton Grand Vacations Inc. filed an 8-K on March 8, 2024, reporting on the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements. The filing also includes financial statements and exhibits. The report date is March 5, 2024.
Why It Matters
This filing provides crucial updates on the company's leadership and executive compensation, which can impact investor confidence and strategic direction.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of corporate governance and executive appointments, not indicating immediate financial distress or significant operational shifts.
Key Players & Entities
- Hilton Grand Vacations Inc. (company) — Registrant
- March 5, 2024 (date) — Earliest Event Reported
- March 8, 2024 (date) — Date of Report
- Delaware (jurisdiction) — State of Incorporation
- 6355 MetroWest Boulevard, Suite 180 Orlando, Florida 32835 (address) — Principal Executive Offices
FAQ
What specific officer positions were affected by the changes reported in this 8-K?
The filing indicates changes related to 'Departure of Directors or Certain Officers', 'Election of Directors', and 'Appointment of Certain Officers', but does not specify the exact positions in the provided text.
Are there any details about new compensatory arrangements for officers mentioned?
The filing lists 'Compensatory Arrangements of Certain Officers' as an item, suggesting such details are included, but the specific terms are not elaborated in the provided excerpt.
When was the earliest event reported in this 8-K?
The earliest event reported in this 8-K was on March 5, 2024.
What is the primary business of Hilton Grand Vacations Inc. according to the filing?
Hilton Grand Vacations Inc. is in the 'HOTELS, ROOMING HOUSE, CAMPS & OTHER LODGING PLACES' industry, SIC code [7000].
Where are Hilton Grand Vacations Inc.'s principal executive offices located?
The principal executive offices are located at 6355 MetroWest Boulevard, Suite 180, Orlando, Florida 32835.
Filing Stats: 1,106 words · 4 min read · ~4 pages · Grade level 14.4 · Accepted 2024-03-08 16:03:54
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value per share HGV New York St
- $1,100,000 — ncrease to Mr. Wang's base salary (from $1,100,000 to $1,200,000) and short-term annual ca
- $1,200,000 — Wang's base salary (from $1,100,000 to $1,200,000) and short-term annual cash-based bonus
Filing Documents
- ef20023652_8k.htm (8-K) — 51KB
- 0001140361-24-012326.txt ( ) — 185KB
- hgv-20240305.xsd (EX-101.SCH) — 4KB
- hgv-20240305_lab.xml (EX-101.LAB) — 21KB
- hgv-20240305_pre.xml (EX-101.PRE) — 16KB
- ef20023652_8k_htm.xml (XML) — 4KB
02
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers . On March 5, 2024, the Compensation Committee (the "Compensation Committee") of the Board of Directors of Hilton Grand Vacations Inc. (the "Company") approved transaction incentive awards ("Transaction Incentive Awards") in connection with the Company's January 2024 acquisition of Bluegreen Vacations Holding Corporation (the "Merger") consisting of performance-based restricted stock units (the "Performance RSUs") and performance-based cash awards (the "Performance Cash Awards") for certain executive officers and employees, including the named executive officers listed below. The Performance RSUs and the Performance Cash Awards comprise 60% and 40%, respectively, of the Transaction Incentive Awards for each applicable recipient. The Compensation Committee considered the past, current and future efforts by the Company's employees necessary to a successful completion and integration of the Merger, as well as its transformative nature. The Compensation Committee determined that the Transaction Incentive Awards were an effective tool to reward and incentivize employees for their efforts, while also continuing to tie pay to performance (including, but not limited to, the successful integration of the two companies). The Transaction Incentive Awards were granted under, and pursuant to the terms and conditions of, the Hilton Grand Vacations Inc. 2023 Omnibus Incentive Plan (the "2023 Plan"), and the award agreements approved by the Compensation Committee (collectively, the "Transaction Incentive Award Agreements"). The Transaction Incentive Awards as approved by the Compensation Committee for the named executive officers (which includes the Company's principal executive and financial officers) are as follows: Transaction Incentive Award Value ($) Performance RSUs (#) (1) Performance Cash Awards ($) (2) Ma
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HILTON GRAND VACATIONS INC. By: /s/ Charles R. Corbin Charles R. Corbin Executive Vice President, General Counsel and Secretary Date: March 8, 2024