Summary by Moomoo AI
On July 5, 2024, Dollar Tree granted a special performance award to Lawrence Gatta, Jr., Chief Merchandising Officer of Family Dollar. The award consists of performance-based restricted stock units (PSUs) with a target value of 14,060 shares, worth $1.5 million at grant date.The PSUs will vest on the third anniversary of the grant, contingent on continued service. Early vesting at target is possible in case of death, disability, or retirement. The Board of Directors may also approve vesting prior to the third anniversary, at target or up to 166.67% of target, based on achievement of performance objectives related to the strategic review of the Family Dollar business segment.This special award, granted under Dollar Tree's 2021 Omnibus Incentive Plan, aligns executive compensation with the company's strategic initiatives for its Family Dollar division, potentially incentivizing performance in a key business segment.
