TTEC CFO awarded $225,000 bonus amid private buyout talks

TTEC Holdings, Inc. (NASDAQ:TTEC), a global customer experience technology and services company currently valued at $170 million, has granted a significant cash bonus to its Chief Financial Officer, Kenneth R. Wagers III. The announcement, made today, outlines a one-time payment of $225,000, which is part of the company's compensatory arrangements for certain officers. According to InvestingPro analysis, the stock is currently trading below its Fair Value, with shares near their 52-week low of $3.37.

The bonus is structured to be distributed in two installments, with 40% to be paid on the last payroll date in August 2025, and the remaining 60% on the first payroll date in January 2026. However, should TTEC complete the potential take private transaction that has been previously announced, any unpaid portion of the bonus will be expedited and paid within 60 days of the deal's closure. The company operates with a significant debt burden, with a debt-to-equity ratio of 4.11, though its current ratio of 1.93 indicates adequate liquidity to meet short-term obligations.

Mr. Wagers' eligibility for the bonus is contingent upon his continued employment with TTEC on the specified payout dates. Nonetheless, if his employment with TTEC is terminated by the company for any reason other than cause, prior to the bonus payout dates, he will receive the full bonus amount upon termination.

This financial incentive comes at a time when TTEC's Board of Directors is actively considering a potential take private transaction, which is being evaluated by a special committee of independent directors. While discussions are ongoing, there is no certainty that an agreement will be reached or that the transaction will be completed. InvestingPro analysis reveals multiple key insights about TTEC's current position, with 13 additional ProTips available to subscribers, including detailed analysis of the company's financial health and market position.

As this situation evolves, investors and stakeholders are closely watching TTEC's strategic decisions. The company's commitment to its executive compensation reflects its focus on retaining key leaders during critical periods of potential corporate change.

This report is based on the latest 8-K filing by TTEC Holdings, Inc. with the Securities and Exchange Commission.

In other recent news, TTEC Holdings has announced significant changes in its executive roles. The company's Chief Accounting Officer, Francois Bourret, will be departing to take on a Chief Financial Officer role in a different industry. Kenneth R. Wagers, III, currently the Chief Financial Officer, will assume the additional responsibilities of the principal accounting officer effective January 31, 2025. TTEC Holdings has confirmed that Wagers will not receive any additional compensation for these extra duties. These changes were detailed in the company's recent Securities and Exchange Commission (SEC) filing. The firm also emphasized Wagers' qualifications and experience as outlined in their 2024 Definitive Proxy Statement. These recent developments are part of TTEC Holdings' standard corporate governance practices, ensuring that the company's leadership and financial oversight remain in experienced hands.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.