Item 5. OTHER INFORMATION
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Item 5. OTHER INFORMATION
On August 5, 2022, the Board of Directors adopted an Amended and Restated 2014 Stock Option Plan Dividend Equivalent Plan and a Fourth Amended and Restated 2006 Stock Incentive Plan Dividend Equivalent Plan clarifying the manner in which the Company pays dividend equivalents in cash. The amendments do not represent a change in the Company’s practice. As set forth in the Company’s proxy statement filed on June 1, 2022, the Board of Directors will no longer receive dividend equivalent payments in cash, but rather for dividends declared after June 1, 2022, representing the date of the proxy statement (including the $18.50 per share special dividend declared on August 9, 2022), dividends will result in a reduction of strike price on the outstanding options held by the Board of Directors.
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