Universal Technical Institute named Eugene Putnam Jr. executive vice president and chief financial officer, stated a UTI a press release.
UTI entered an employment agreement outlining his three-year term and salary, which will be determined by the company’s Board of Directors. The current annual salary is $300,000 with a potential target bonus of 50 percent of the base salary.
The agreement also states Putnam will receive a one-time sign on bonus of $50,000 and relocation reimbursement benefits. He will also receive equity grants with values of $160,000 in restricted stock and $140,000 in stock options on the next open trading window.