2026-03-17 20:11:20
NWPX Infrastructure, Inc. Grants Performance Share Units and Restricted Stock Units to Executives
Expected Stock impact: Slightly Positive
On March 12, 2026, NWPX Infrastructure, Inc. announced the approval of grants of performance share units (PSUs) and restricted stock units (RSUs) to its named executive officers. The decision was made by the Board of Directors following the recommendation of the Compensation Committee. Each executive received awards valued at a percentage of their annual base salary, with 75% represented by PSUs and 25% by RSUs. The PSUs will vest based on the company's Earnings before Interest Expense, Income Taxes, Depreciation, and Amortization (EBITDA) margin over a specified measurement period. The vesting schedule includes three equal installments on March 31, 2027, March 31, 2028, and March 30, 2029. In the event of a change in control, the PSUs will become immediately vested based on performance results up to that date. The RSUs will vest in three equal installments on January 15, 2027, January 14, 2028, and January 16, 2029, contingent upon continued service with the company. Additionally, the company entered into a retirement agreement with Miles Brittain, allowing him to transition to a part-time consultant role after his retirement on April 3, 2026. The agreement includes an annual salary of $175,000 and affirms the terms of his unvested RSUs. NWPX Infrastructure also appointed Jesus Tanguis as a corporate officer, effective March 12, 2026, further strengthening its leadership team. The company’s 2026 Annual Meeting of Shareholders is scheduled for June 10, 2026, with a record date of April 9, 2026, for determining eligible shareholders.
