Dauch Corporation grants equity-based incentives to new finance executive
Dauch Corporation has issued equity awards to newly appointed Senior Vice President of Finance Nathan Iles as part of an employment inducement package.
Detroit-based automotive supplier Dauch Corporation has announced an equity-based compensation package for Nathan Iles, who recently joined the firm as Senior Vice President of Finance. The grant follows New York Stock Exchange Rule 303A.08, which allows for the issuance of equity awards as an employment inducement for new hires.
The compensation includes 107,759 time-based restricted stock units scheduled to vest on the first anniversary of the grant. Additionally, Iles received performance-based stock units. The payout for these performance units is tied to share price targets ranging from $12.00 to $22.00, to be assessed during a period ending in March 2029. Depending on share price performance, the total payout could range from a target of 90,909 shares to a maximum of 272,727 shares.
Approved by the company's compensation committee, the grant structure requires Iles to maintain active employment with the company. Vesting of any earned performance shares is scheduled for 2029 and 2030, aligning executive interests with long-term shareholder value.