Valmont Industries, Inc. has announced the compensation package for Thomas Liguori, revealing key details about his remuneration. Liguori will receive a base salary of $650,000 per year and will participate in Valmont's 2024 Annual Incentive Plan with a target of 80% of his base salary. His participation in the Long Term Performance Share (LTIP) Plans for 2023-2025 and 2024-2026 comes with a target value of 80% of his base salary. Additionally, he will be eligible for a grant in December 2024 with a target value of 160% of his base salary under Valmont's long-term incentive plans.
Liguori will also take part in Valmont's non-qualified deferred compensation plan, VERSP 401(k) plan, and health and welfare benefit plans. As part of his compensation, he will receive a new hire equity grant for equity replacement, consisting of $160,000 in restricted unit Stock Units with three-year tiered vesting. Moreover, he is subject to a stock ownership guideline of 2.5 times his base salary and will receive a full relocation package.
This compensation package showcases the company's commitment to attracting and retaining top talent, as well as aligning executive remuneration with long-term performance and shareholder interests. Today the company's shares have moved 0.1% to a price of $285.2. For more information, read the company's full 8-K submission here.
