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4-Traders Homepage  >  Equities  >  Nasdaq  >  Finish Line Inc    FINL

Delayed Quote. Delayed  - 06/29 09:59:58 pm
20.07 USD   +2.14%
06/27 FINISH LINE : Reports First Quarter Fiscal Year 2017 Results
06/25DJFinish Line Sees Sales Picking Up -- WSJ
06/24DJFinish Line Reports 30% Slide in Profit
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FINISH LINE INC /IN/ : Other Events, Financial Statements and Exhibits (form 8-K)

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06/27/2016 | 09:43pm CEST

Item 8.01 Other Events.

On June 27, 2016, the Board of Directors of The Finish Line, Inc. (the "Company") approved amendments to The Finish Line, Inc. 2009 Incentive Plan, as amended and restated (the "2009 Incentive Plan"), to: (i) explicitly mandate a minimum one year vesting period for awards granted under the 2009 Incentive Plan; and (ii) explicitly prohibit the repricing or replacement of options or stock appreciation rights below their original exercise price without shareholder approval. The foregoing description of the amendments to the 2009 Incentive Plan is qualified in its entirety by reference to the full text of the amendments, a copy of which is filed as Exhibit 99.1 to this report on Form 8-K and incorporated by reference herein.

In addition, on June 27, 2016, the Compensation Committee of the Board of Directors of the Company adopted an Incentive Compensation Clawback Policy setting forth the conditions under which the Company will seek recovery of incentive compensation paid or awarded to current or former executive officers of the Company. The policy provides that where (i) the incentive compensation (or the vesting of an incentive award) paid to an executive officer of the Company was based upon the achievement of financial results, as reported with the SEC, that are subsequently restated due to material noncompliance with securities law financial reporting requirements, (ii) a lower payment would have been made (or lesser or no vesting would have occurred as to any such award) to such executive officer based upon the restated financial results, and (iii) the incentive compensation or the vesting of any award was received or occurred during the 3-year period preceding the date of the restatement, the Company will require the recovery from such executive officer the portion of the incentive compensation paid that is greater than the amount that would have been paid had the financial results been properly reported. The Company may seek direct repayment from the affected executive officer or reduce other compensation owed to such executive officer by an amount equal to the remaining repayment obligation. The Company may also seek to recover gains from the sale of vested shares or shares purchased upon the exercise of options subject to clawback. The Compensation Committee may also cancel outstanding equity awards subject to clawback.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

The following exhibits are being furnished with this Current Report on Form 8-K.

Exhibit Number Description

     99.1      Amendment Number 1 to The Finish Line, Inc. 2009 Incentive Plan,
               Amended and Restated as of April 16, 2014.




                                       2

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© Edgar Online, source Glimpses

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