Powell grants CEO Brett Cope 36,000 RSUs with backloaded vesting to retain him past age 60

Filed July 6, 2026 · Period ending July 1, 2026 · ~1 min read

Key Changes

• high

  CEO Brett Cope received a special one-time award of 36,000 restricted stock units designed to retain him beyond retirement eligibility at age 60, when his employment agreement would otherwise allow immediate vesting of equity.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
• medium

  The award vests 25% on July 1, 2027, 25% on July 1, 2028, and 50% on July 1, 2029, concentrating half the value in the final year to maximize retention incentive through 2029.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
• high

  If Cope retires before a vesting date, the unvested portion is forfeited, explicitly overriding his existing employment agreement that would otherwise grant immediate vesting upon retirement.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →