UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM
CURRENT REPORT
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Item 5.02(e) Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On August 20, 2020, the Compensation Committee (the “Committee”) of Dana Incorporated (the “Company”) approved an adjustment to the 2019 Long Term Incentive Plan (“2019 LTIP”), to adjust the 2020 financial results for the loss of sales due to the global COVID-19 pandemic and providing for a profit contribution at a rate consistent with that experienced in the normal course of business.
The adjustment will result in a payout that is less than target and that is aligned with the Committee’s pay for performance philosophy. Further, this adjustment is the same as the adjustment made to the 2018 Long Term Incentive Plan that was previously approved by the Committee, and which was reported in the Company’s 2021 Proxy Statement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| DANA INCORPORATED | ||||||
| Date: August 25, 2021 | By: | /s/ Douglas H. Liedberg | ||||
| Name: | Douglas H. Liedberg | |||||
| Title: | Senior Vice President, General Counsel and Secretary | |||||