UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported) June 15, 2015

 

 

WILLBROS GROUP, INC.

(Exact Name of Registrant as Specified in Its Charter)

 

 

Delaware

(State or Other Jurisdiction

of Incorporation)

 

1-34259   30-0513080

(Commission

File Number)

  

(IRS Employer

Identification No.)

 

4400 Post Oak Parkway, Suite 1000, Houston, Texas   77027
(Address of Principal Executive Offices)   (Zip Code)

(713) 403-8000

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

 

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 (see General Instruction A.2. below):

 

  ¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

  ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

  ¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

  ¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) Willbros Group, Inc. (the “Company”) has previously announced its intention to sell its Professional Services segment. In order to help facilitate this sale and ensure a smooth transition to the buyer of the segment, on June 15, 2015, the Company established a performance-based award opportunity for Edward J. Wiegele, Executive Vice President, Engineering & Technology and President of Professional Services. Mr. Wiegele has the opportunity to earn a cash award upon a sale of the segment of between $475,000 and $1,187,500, depending on the sales price of the segment. Mr. Wiegele has waived the right to receive a severance payment, if any, under the Company’s 2010 Management Severance Plan for Executives in the event of the sale of the segment.

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.

 

WILLBROS GROUP, INC.
Date: June 19, 2015 By:

/s/ Van A. Welch

Van A. Welch

Executive Vice President and

Chief Financial Officer