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FLUOR CORP : Change in Directors or Principal Officers (form 8-K)

05/24/2021 | 06:18am EDT

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;

          Appointment of Certain Officers; Compensatory Arrangements of Certain

As previously reported, Mr. Garry W. Flowers stepped down from his position as Executive Vice President, Construction, HSE and Risk of Fluor Corporation (the "Corporation"), effective January 18, 2021. Subsequently, his current position of Executive Vice President, Office of the CEO was eliminated, and on May 18, 2021, the Corporation entered into a Separation and Release Agreement (the "Agreement") with Mr. Flowers specifying the terms of his separation from employment. Pursuant to the Agreement, Mr. Flowers will provide transition services to the Corporation through June 30, 2021 (the "Transition Period"); provided, however, that his employment will be terminated earlier if he provides any services to any company engaged in a business competitive to the Corporation during the Transition Period. Mr. Flowers will receive a lump sum payment of $1,600,000 at the end of his employment, which includes severance and retention amounts. He will be eligible to receive a prorated portion of his 2021 annual incentive award for the period between January 1, 2021 and June 30, 2021, based on his target annual bonus percentage and actual achievement of performance measures. Restricted stock units, performance-based unit awards, and non-qualified stock options granted to Mr. Flowers in 2020 or earlier will continue to vest in accordance with their terms. Mr. Flowers did not receive any long-term incentive awards for 2021.

The Agreement provides that Mr. Flowers will make himself reasonably available to assist in any litigation involving the Corporation. The Agreement also contains customary confidentiality covenants, a release of claims, and non-competition and non-solicitation restrictions.

The foregoing description is a summary and is qualified by reference to the terms the Agreement, which will be filed with the Corporation's quarterly report on Form 10-Q for the quarter ended June 30, 2021.

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Financials (USD)
Sales 2021 13 394 M - -
Net income 2021 -6,03 M - -
Net cash 2021 278 M - -
P/E ratio 2021 1 857x
Yield 2021 0,39%
Capitalization 2 326 M 2 326 M -
EV / Sales 2021 0,15x
EV / Sales 2022 0,13x
Nbr of Employees 43 717
Free-Float 98,2%
Duration : Period :
Fluor Corporation Technical Analysis Chart | FLR | US3434121022 | MarketScreener
Technical analysis trends FLUOR CORPORATION
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 9
Last Close Price 16,66 $
Average target price 21,57 $
Spread / Average Target 29,5%
EPS Revisions
Managers and Directors
David Edward Constable Chief Executive Officer & Director
Joseph L. Brennan Chief Financial Officer & Executive Vice President
Alan Lee Boeckmann Executive Chairman
Robert C. Taylor Chief Information Officer & Senior Vice President
Rosemary T. Berkery Independent Director
Sector and Competitors