Summary by Moomoo AI
Medical Properties Trust Inc. reported on March 8, 2024, that its Compensation Committee has granted performance-based restricted stock unit awards to key executives, CEO Edward K. Aldag, Jr. and CFO R. Steven Hamner. The awards consist of 2,700,000 restricted stock units, which will vest based on the achievement of specific stock price appreciation hurdles. These hurdles are set at $7.00, $8.50, and $10.00, representing increases of 67%, 103%, and 139% above the grant date stock price, respectively. The RSUs are cash-settled, with the payment amount determined by the average closing price of the company's common stock over the five trading days ending on the vesting date. The grants are part of the Amended and Restated 2019 Equity Incentive Plan and aim to motivate and retain the executives to execute the company's strategic business plan and enhance shareholder value. The performance period for the RSUs extends to December 31, 2027, with vesting contingent on continued employment and the achievement of performance metrics.