On September 29, 2023, the Compensation Committee (the "Committee") of the Board of Directors of CECO Environmental Corp. (the "Company") granted to each of Peter Johansson, the Company's SVP, Chief Financial and Strategy Officer, and Joycelynn Watkins-Asiyanbi, the Company's SVP, Chief Administrative and Legal Officer, 47,247 and 41,341 performance-based restricted stock units ("PSUs"), respectively, under the Company's 2021 Equity and Incentive Compensation Plan. The Committee made such grants to provide enhanced retention and performance incentives to each of Mr. Johansson and Ms. Watkins-Asiyanbi, with the form and terms of the equity grants being consistent with the equity grant made by the Committee to Todd Gleason, the Company's Chief Executive Officer, earlier this year. The PSUs will vest on July 5, 2027 only if (i) Mr. Johansson or Ms. Watkins-Asiyanbi, as the case may be, is still employed by the Company at the vest date, and (ii) the Company's stock price reaches at least $22.00 (with a 200% payout if the stock price reaches $35.00) for 20 or more consecutive trading days during the performance period (as such terms are documented within equity award agreements between the Company and each of Mr. Johansson and Ms. Watkins-Asiyanbi, respectively, dated September 29, 2023 (each, an "Equity Award Agreement")). The foregoing description of the Equity Award Agreements is a summary only and is qualified in its entirety by reference to the full text of the Equity Award Agreements, which are filed as Exhibit 10.1 and Exhibit 10.2 to this Current Report on Form 8-K, respectively, and are incorporated herein by reference.
9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Description
10.1
Equity Award Agreement between the Company and Peter Johansson, dated September 29, 2023
10.2
Equity Award Agreement between the Company and Joycelynn Watkins-Asiyanbi, dated September 29, 2023
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CECO Environmental Corporation published this content on 05 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 October 2023 10:49:19 UTC.
CECO Environmental Corp. is an environmentally focused, diversified industrial company. The Companyâs segments include Engineered Systems, which serves the power generation, hydrocarbon processing, water/wastewater treatment, oily water separation and treatment, marine and naval vessels, and midstream oil and gas sectors. The segment offers environmental and equipment protection solutions with its highly engineered platforms, including emissions control, fluid bed cyclones, thermal acoustics, separation and filtration, and dampers and expansion joints, and Industrial Process Solutions segment, which serves the industrial sector with solutions for air pollution and contamination control, fluid handling, and process filtration in applications such as aluminum beverage can production, automobile production, food and beverage processing, semiconductor fabrication, electronics production, steel and aluminum mill processing, wood manufacturing, desalination, and aquaculture markets.
CECO ENVIRONMENTAL CORP. 
