Harbinger Group Inc.
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SEC Filings

10-K/A
HRG GROUP, INC. filed this Form 10-K/A on 01/27/2017
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Retention Agreement with Mr. Williams
The Company and Mr. Williams entered into a Retention and Release Agreement, dated August 6, 2015, as described more fully under the heading “Compensation and Benefits - Payments Upon Termination and Change of Control.”
Employment Agreement with Mr. Nicholson
On November 19, 2015, the Company entered into an employment agreement with Mr. Nicholson as its Senior Vice President and Chief Accounting Officer, and on December 26, 2015, Mr. Nicholson was promoted to the additional position of Acting Chief Financial Officer of the Company, effective as of January 4, 2016. Mr. Nicholson’s annual base salary was $275,000 and Mr. Nicholson is also eligible for an annual bonus in a target amount equal to $275,000. Mr. Nicholson is subject to certain non-competition and non-solicitation restrictions for six months following termination of employment, as well as perpetual confidentiality and non-disparagement provisions. As described more fully under the heading “Subsequent Events After Fiscal 2016 Year End”, in Fiscal 2017, Mr. Nicholson’s base salary was increased and he was also promoted to Chief Financial Officer.
Grants of Plan-Based Awards for Fiscal 2016
The following table provides information concerning awards granted in Fiscal 2016 to our named executive officers.
In reading the table below, it should be noted that SEC disclosure rules require that this table include for each fiscal year the aggregate fair value, as of the grant date, of equity awards granted only during the applicable fiscal year. Since under the Company’s bonus plan equity compensation for any fiscal year is not granted until the completion of such fiscal year, the value of such equity is not included in the Summary Compensation Table or the Grants of Plan-Based Awards Table for such year, but in accordance with SEC rules is, or will be, as applicable, included in next year’s compensation disclosure. For more details, please see footnote (2) to the Summary Compensation Table.
Name
 
Grant Date
 
Estimated Possible Payouts Under Non- Equity Incentive Plan Awards
 
All Other Stock Awards: Number of Shares of Stock or Units (2)
 
All Other Option Awards: Number of Securities Underlying Options (2)
 
Exercise or Base Price of Option Awards ($/Sh)
 
Grant Date Fair Value ($) (3)
 
 
Threshold
 
Target ($) (1)
 
Maximum
 
 
 
 
Omar M. Asali
 
 
 
 
 
2,500,000

 
 
 
 
 
 
 
 
 
 
 
 
11/24/2015
 
 
 
 
 
 
 
 
 
9,163

 
13.93

 
46,454

 
 
11/24/2015
 
 
 
 
 
 
 
17,429

 
 
 
 
 
242,786

David M. Maura
 
 
 
 
 
2,000,000

 
 
 
 
 
 
 
 
 
 
 
 
11/24/2015
 
 
 
 
 
 
 
 
 
7,222

 
13.93

 
36,613

 
 
11/24/2015
 
 
 
 
 
 
 
13,737

 
 
 
 
 
191,356

George C. Nicholson
 
 
 
 
 
275,000

 
 
 
 
 
 
 
 
 
 
 
 
11/24/2015
 
 
 
 
 
 
 
 
 
—

 
—

 
—

 
 
11/24/2015
 
 
 
 
 
 
 
—

 
 
 
 
 
—

Thomas A. Williams
 
 
 
 
 
—

 
 
 
 
 
 
 
 
 
 
 
 
11/24/2015
 
 
 
 
 
 
 
 
 
—

 
—

 
—

 
 
11/24/2015
 
 
 
 
 
 
 
—

 
 
 
 
 
—

(1)
For Messrs. Asali and Maura, this reflects the target payouts pursuant to the 2016 Bonus Plan and for Mr. Nicholson this reflects the target payout pursuant to his employment agreement, in each case, with respect to services performed for the Company during Fiscal 2016. The maximum bonus payment to any individual under the 2016 Bonus Plan with respect to any year is subject to the $20 million Award Cap.
(2)
All restricted stock and option awards made in Fiscal 2016 were granted pursuant to the 2015 Bonus Plan.
(3)
This column reflects the aggregate grant date fair value of the option and stock awards computed in accordance with FASB ASC Topic 718 (disregarding any risk of forfeiture assumptions). For a discussion of the relevant valuation assumptions, see Note 18 to Consolidated Financial Statements included in the Original 10-K.

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