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i11 Harbor Park Drive, iPort
Washington, iNew York
i11050
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s
telephone number, including area code: i(516)i608-7000
N.A.
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing
obligations of the registrant under any of the following provisions ( see General Instruction A.2 below):
i☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
i☐
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14-12)
i☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240-14d-2(b))
i☐
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CRF 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
iCommon
Stock ($.01 par value)
iGIC
iNew York Stock Exchange
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 i☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
Act. ☐
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February
28, 2024, the Compensation Committee of the Board of Directors of Global Industrial Company approved a $187,500 special award of performance-based restricted stock units (“PRSUs”) and a $187,500 special award of stock options to Barry Litwin, Chief Executive Officer, subject in each case to the terms of the Company’s 2020 Omnibus Long-Term Incentive Plan (the “LTIP”). The awards to Mr. Litwin consist of 4,278 PRSUs, vesting as determined in accordance with the PRSU grant agreement, and 11,343 stock options, 25% of which vest on each of the first, second, third and fourth anniversary of the grant date, subject to the terms of the stock option grant agreement.
SIGNATURES
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.
