(Edgar Glimpses Via Acquire Media NewsEdge) ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
The Board of Directors (the "Board") of Republic Services, Inc. ("Republic")
elected Manuel (Manny) Kadre, 48, to serve on the Board, effective June 24,
Mr. Kadre is eligible to receive equity and cash compensation in accordance with
Republic's previously adopted compensation arrangements for non-employee
directors, including: (1) an annual grant of 7,500 restricted stock units that
vest immediately and will be distributed in Republic common stock three years
after the grant date, with the grant for 2014 to be prorated to the portion of
the year following his election to the Board; and (2) an annual retainer of
$80,000. In addition, at the end of any quarter in which dividends are
distributed to stockholders, Republic's non-employee directors, including Mr.
Kadre, receive additional restricted stock units with a value (based on the
closing price of Republic common stock on the dividend payment date) equal to
the value of dividends they would have received on all restricted stock units
held by them on the dividend record date.
ITEM 8.01 OTHER EVENTS.
On June 24, 2014, Republic issued a press release announcing Mr. Kadre's
election to the Board. A copy of this press release is incorporated herein by
reference as Exhibit 99.1.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
Exhibit No. Description
99.1 Press release dated June 24, 2014 announcing the election of Mr. Kadre.