UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(f) On March 23, 2022, the amount of non-equity incentive plan compensation earned in 2021 by each of the executive officers of Bowman Consulting Group Ltd. (the “Company”) was finalized upon the completion of the audit of the Company’s financial statements for the fiscal year ended December 31, 2021. Based on the final determination of the Company’s financial performance, specifically, its achievement of Adjusted EBITDA at the “above target” level, the non-equity incentive plan compensation increased from that previously reported in the Summary Compensation Table included in the Company’s prospectus dated February 8, 2022 (the “Prospectus”), relating to the Company’s registration statement on Form S-1, as amended (File No. 333-262464). The actual amount of non-equity incentive plan compensation earned by each executive officer for the fiscal year ended December 31, 2021 was as follows: Mr. Bowman, $387,466; Mr. Labovitz, $257,278; Mr. Bruen, $257,278; and Mr. Hickey, $247,978. Accordingly, total compensation for each executive officer for the fiscal year ended December 31, 2021 has been recalculated to reflect these amounts as follows: Mr. Bowman, $8,305,435; Mr. Labovitz, $5,964,326; Mr. Bruen, $2,812,157; and Mr. Hickey, $2,736,987. No other amounts in the Summary Compensation Table included in the Prospectus have been changed.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BOWMAN CONSULTING GROUP LTD. | ||||||
| Date: March 25, 2022 | By: | /s/ Bruce Labovitz | ||||
| Bruce Labovitz | ||||||
| Chief Financial Officer | ||||||