Canadian Underwriter

Hub gains approval for equity incentive plan

May 12, 2005   by Canadian Underwriter

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Hub International Ltd. (TSX: HBG) has gained shareholder approval for its 2005 equity incentive plan (EIP) and the election of new board director. Hub says that the new EIP does not increase the number of equity awards that the company can grant. Under the plan, the company’s board can award up to 3.6 million common shares (equal to about 12% of shares currently outstanding). James McElvany, a former executive director of Marsh Inc., has been elected to the Hub board of directors for a one-year term.

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