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ME NEWS
07 Mar 2025, 06:15
Manhattan Associates Announces Amendment to Executive Vice-Chairman Employment Agreement
Atlanta, GA – March 5, 2025 – Manhattan Associates, Inc. (NASDAQ: MANH) today announced amendments to the employment agreement of Eddie Capel, the company’s Executive Vice-Chairman, following his transition from President and CEO to Executive Vice-Chairman on February 12, 2025. The amendment also anticipates his transition to Executive Chairman on or about May 13, 2025, at the company's annual meeting of shareholders.
Key Terms of the Amended Agreement:
Salary Reduction: Effective March 1, 2025, Mr. Capel’s annual base salary is reduced to $507,500.
Restricted Stock Units (RSUs):
Mr. Capel’s Unvested RSUs (as of January 23, 2025) will continue to vest according to their original terms.
If Mr. Capel’s employment ceases, his Unvested RSUs will continue to vest as long as he remains a director.
In the event of a change of control, Unvested RSUs will remain in effect, or the company may provide a substantially equivalent substitute in the surviving entity.
If, within 24 months of a change of control, Mr. Capel is terminated without cause or resigns for constructive termination, all Unvested RSUs will fully vest.
Exclusion from Performance-Based Cash Bonus & Severance:
Mr. Capel will no longer participate in Manhattan Associates’ annual cash bonus plan.
He will also not be eligible for cash severance payments upon termination.
Board Tenure & Resignation Policy:
If Mr. Capel is not reelected to the Board or tenders his resignation under the Majority Voting Resignation Policy, his Unvested RSUs will continue to vest.
Termination Provisions:
The company or Mr. Capel may terminate employment at any time.
The agreement terminates if he transitions to a non-executive role while remaining on the Board.
CEO and Board Comments
"Eddie Capel’s leadership has been instrumental in shaping Manhattan Associates into the industry leader it is today," said Eric A. Clark, President & CEO. "As he transitions to Executive Chairman, his guidance will continue to play a key role in our company’s strategic direction."
About Manhattan Associates
Manhattan Associates (NASDAQ: MANH) is a global leader in supply chain, inventory, and omnichannel commerce solutions. The company helps businesses digitally transform and optimize operations across retail, manufacturing, and logistics industries.
Atlanta, GA – March 5, 2025 – Manhattan Associates, Inc. (NASDAQ: MANH) today announced amendments to the employment agreement of Eddie Capel, the company’s Executive Vice-Chairman, following his transition from President and CEO to Executive Vice-Chairman on February 12, 2025. The amendment also anticipates his transition to Executive Chairman on or about May 13, 2025, at the company's annual meeting of shareholders.
Key Terms of the Amended Agreement:
Salary Reduction: Effective March 1, 2025, Mr. Capel’s annual base salary is reduced to $507,500.
Restricted Stock Units (RSUs):
Mr. Capel’s Unvested RSUs (as of January 23, 2025) will continue to vest according to their original terms.
If Mr. Capel’s employment ceases, his Unvested RSUs will continue to vest as long as he remains a director.
In the event of a change of control, Unvested RSUs will remain in effect, or the company may provide a substantially equivalent substitute in the surviving entity.
If, within 24 months of a change of control, Mr. Capel is terminated without cause or resigns for constructive termination, all Unvested RSUs will fully vest.
Exclusion from Performance-Based Cash Bonus & Severance:
Mr. Capel will no longer participate in Manhattan Associates’ annual cash bonus plan.
He will also not be eligible for cash severance payments upon termination.
Board Tenure & Resignation Policy:
If Mr. Capel is not reelected to the Board or tenders his resignation under the Majority Voting Resignation Policy, his Unvested RSUs will continue to vest.
Termination Provisions:
The company or Mr. Capel may terminate employment at any time.
The agreement terminates if he transitions to a non-executive role while remaining on the Board.
CEO and Board Comments
"Eddie Capel’s leadership has been instrumental in shaping Manhattan Associates into the industry leader it is today," said Eric A. Clark, President & CEO. "As he transitions to Executive Chairman, his guidance will continue to play a key role in our company’s strategic direction."
About Manhattan Associates
Manhattan Associates (NASDAQ: MANH) is a global leader in supply chain, inventory, and omnichannel commerce solutions. The company helps businesses digitally transform and optimize operations across retail, manufacturing, and logistics industries.
