UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 16, 2021, the Board of Directors (the “Board”) of Volt Information Sciences, Inc. (the “Company”) approved certain adjustments to the compensation of Linda Perneau, the Company’s President & Chief Executive Officer, as well as Herbert Mueller, the Company’s Senior Vice President and Chief Financial Officer.
Ms. Perneau’s annual base salary was increased from $750,000 to $825,000, with her target annual bonus of 100% of base salary under the Company’s Annual Incentive Plan remaining unchanged. The Board approved an increase in the grant date target value of Ms. Perneau’s long-term equity incentive award for 2022 from 240% to 245% of her new base salary.
Other than the foregoing, the terms and conditions of Ms. Perneau’s employment agreement with the Company remain unchanged.
Mr. Mueller’s annual base salary was increased from $465,000 to $500,000, with his target annual bonus of 80% of base salary under the Company’s Annual Incentive Plan remaining unchanged. The Human Resources & Compensation Committee of the Board also approved an increase in the grant date target value of Mr. Mueller’s long-term equity incentive award for 2022 from 120% to 140% of his new base salary. Other than the foregoing, the terms and conditions of Mr. Mueller’s employment agreement with the Company remain unchanged.
SIGNATURES
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.
|
Date: December 22, 2021 |
Volt Information Sciences, Inc.
By: /s/ Nancy Avedissian |
|
Nancy Avedissian Senior Vice President, Chief Legal Officer and | |
Cover |
Dec. 16, 2021 |
|---|---|
| Cover [Abstract] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Period End Date | Dec. 16, 2021 |
| Entity File Number | 001-9232 |
| Entity Registrant Name | VOLT INFORMATION SCIENCES, INC. |
| Entity Central Index Key | 0000103872 |
| Entity Tax Identification Number | 13-5658129 |
| Entity Incorporation, State or Country Code | NY |
| Entity Address, Address Line One | 2401 N. Glassell Street |
| Entity Address, City or Town | Orange |
| Entity Address, State or Province | CA |
| Entity Address, Postal Zip Code | 92865 |
| City Area Code | (714) |
| Local Phone Number | 921-8800 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Common Stock, par value $0.10 |
| Trading Symbol | VOLT |
| Security Exchange Name | NYSEAMER |
| Entity Emerging Growth Company | false |