With over 28 years of financial and operational experience in both public and private enterprises, Mr. Wagers, 52, is a valuable addition to the team. Before coming to TTEC, Mr. Wagers held the positions of chief financial officer at FleetPride, a retailer of heavy-duty truck and trailer parts, from 2019 to 2021; chief operating officer at XPO Logistics, a global supply chain solutions provider, from 2018 to 2019; and chief financial officer at Flexport, a global logistics and freight forwarding company, from 2021 to 2023. Mr. Wagers joined Snap One Holdings Corporation’s board of directors in 2020 and is presently a member of the Audit and Risk Management committee, which he chaired from 2020 to 2022. Mr. Wagers graduated from Georgia State University with an MBA and a BA in finance.
In conjunction with his appointment, the Company and Mr. Wagers signed an Employment Agreement on February 12, 2024, under which Mr. Wagers will receive a base salary of $625,000. He will also be eligible for an annual equity award equal to $1,800,000 in TTEC stock at the time of the grant, as well as a cash bonus equal to 100% of his then-current base salary, contingent upon both his and the Company’s annual performance goals. The equity grant to Mr. Wagers will be divided in half: half will be time-based and have a multi-year vesting schedule; the other half will be contingent upon meeting performance goals and will have a cliff vesting schedule at the conclusion of a three-year performance measurement period. There will also be a 200% overperformance opportunity.
With effect from March 1, 2024, Mr. Wagers will be granted a one-time restricted stock unit grant worth $4,000,000, which will vest in equal payments over a five-year period based on the fair market value of TTEC shares at the time of the grant.
The Employment Agreement also includes standard non-competition and non-solicitation restrictions that are applicable both during and after Mr. Wagers’ employment, as well as his entitlement to severance compensation and specific benefits upon his termination of employment. The Employment Agreement is incorporated herein by reference.
Mr. Wagers is not related to any of the directors or executive officers of the company, nor is he involved in any transactions with the company that would necessitate disclosure.
