Herc Holdings Inc. filed SEC Form 8-K: Leadership Update
$HRI
Misc Corporate Leasing Services
Industrials
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 16, 2025
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S Employer Identification No.) | ||||||||||||||||||
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(239 ) 301-1000
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N/A
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changed since last report)
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
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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 May 15, 2025, the Compensation Committee (the “Committee”) of the Board of Directors of Herc Holdings Inc. (the “Company”) granted special retention equity awards to Aaron D. Birnbaum, the Company’s Chief Operating Officer. The equity awards have an aggregate grant date value of $1 million, 50% of which was granted in the form of restricted stock units (“RSUs”) and 50% in the form of performance stock units (“PSUs”). The RSUs will cliff vest on the third anniversary of the grant date and the PSUs will vest on December 31, 2027, subject to the achievement of the performance criteria established by the Committee. The Committee selected Average ROIC and Average REBITDA margin as the performance measures for the PSUs, weighted 40% and 60%, respectively. The terms of the RSUs and the PSUs will be governed by the Company’s standard terms and conditions of such form of award agreements previously filed with the Securities and Exchange Commission.
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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.
| HERC HOLDINGS INC. | ||||||||
| (Registrant) | ||||||||
| By: | /s/ S. WADE SHEEK | |||||||
| Name: | S. Wade Sheek | |||||||
| Title: | Senior Vice President, Chief Legal Officer and Secretary | |||||||
Date: May 16, 2025
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