Gap Inc. announced a significant change to its executive compensation policy by amending the vesting terms of performance-based restricted stock units (2024 PRSUs). These changes apply to the fiscal 2024-2026 period for named executive officers.
Under the revised policy, earned awards will now become fully vested on the date the company's performance is certified. This adjustment accelerates the vesting schedule for top executives, including CEO Richard Dickson and CFO Katrina O'Connell.
This policy modification aims to align executive incentives more closely with certified company performance. The acceleration of vesting could influence executive retention and motivation during the company's ongoing transformation.
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