UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
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This Current Report on Form 8-K is filed by CBRE Group, Inc., a Delaware corporation (the “Company”), in connection with the matters described herein.
| Item 1.01 | Entry into a Material Definitive Agreement. |
On March 3, 2021, the Company’s Board of Directors approved amendments to the Company’s Executive Bonus Plan (the “Amended EBP”) with respect to the methodology for calculating bonus awards following a performance year. Pursuant to the Amended EBP, at the beginning of each plan year starting in 2021, the Compensation Committee of the Board will determine the portion of an executive’s target award that will be earned based on financial performance measures (the “Financial Performance Portion”) and portion that will be earned based on strategic performance measures (the “Strategic Performance Portion”), with separate adjustment factors to be applied to each of the Financial Performance Portion and Strategic Performance Portion, and which when added together, determine an executive’s overall annual bonus award.
The description of the Amended EBP above is a summary and is qualified in its entirety by the Amended EBP, filed as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. |
Description | |
| 10.1+ | Executive Bonus Plan | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
| + | Denotes a management contract or compensatory arrangement |
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: March 8, 2021 | CBRE GROUP, INC. | |||||||
| By: |
/s/ LEAH C. STEARNS |
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| Leah C. Stearns | ||||||||
| Chief Financial Officer | ||||||||