United Rentals 8-K 2006
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) April 4, 2006
UNITED RENTALS, INC.
UNITED RENTALS (NORTH AMERICA), INC.
(Exact name of Registrants as Specified in their Charters)
Registrants telephone number, including area code (203) 622-3131
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Item 1.01 Entry into a Material Definitive Agreement.
Executive Base Salaries and Bonuses
On April 4, 2006, following the filing by the company of its 2004 and 2005 financial statements with the SEC, the compensation committee of the board of directors determined to increase the base salaries of Wayland Hicks, chief executive officer, and Michael Kneeland, executive vice presidentoperations to $750,000 and $400,000 per annum, respectively, efffective April 1, 2006.
Under the companys Annual Incentive Compensation Plan, the target and maximum bonus amounts for these two executive officers for 2006 are as follows: for Mr. Hicks, the target is 100% and the maximum is 150% of $750,000 base salary, and for Mr. Kneeland, the target is 100% and the maximum is 125% of $400,000 base salary.
Pursuant to the requirements of the Securities Exchange Act of 1934, each Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 10th day of April, 2006.