Edgewell announces grants of inducement equity awards in connection with Billie, Inc. acquisition
Edgewell Personal Care Company (NYSE: EPC) has announced stock options and restricted stock units grants to Billie, Inc.'s co-founders, totaling 90,000 and 70,657 Edgewell shares, respectively. The grants vest in increments from December 2022 to December 2024, tied to continued employment. This is part of Edgewell's strategic acquisition of Billie, which enhances its position in the women's shaving market alongside brands like Schick and Skintimate. Additionally, an equity award program for Billie employees will cover 36,055 shares, supporting further integration and talent retention.
- Strategic acquisition of Billie strengthens Edgewell's portfolio in the women's shaving category.
- Potential for increased market share and customer retention through Billie’s direct-to-consumer model.
- Equity award programs could enhance employee retention and alignment with company goals.
- None.
SHELTON, Conn., Dec. 3, 2021 /PRNewswire/ -- Edgewell Personal Care Company (NYSE: EPC) today announced that in connection with its previously-announced acquisition of Billie, Inc. on November 29, 2021, the company has granted to each of Jason Bravman and Georgina Gooley, co-founders of Billie, Inc., stock options covering 90,000 Edgewell shares and restricted stock units covering 70,657 Edgewell shares, with the awards vesting twenty-five percent on each of December 1, 2022 and 2023 and fifty percent on December 1, 2024, subject to continued employment through the applicable vesting dates.
Billie is a fast growing, digitally native, direct-to-consumer brand focused on providing women with high-quality shaving and premium body care products. The Billie brand complements and strengthens Edgewell's position in the women's shaving category, by adding to a portfolio of strong brands such as Schick Intuition, Hydro Silk and Skintimate.
In addition, Edgewell has established an equity award inducement program for certain Billie, Inc. employees that will cover 36,055 shares of Edgewell stock, vesting ratably over a three-year period, subject to continued employment through the applicable vesting dates. The equity award grants to the Billie, Inc. co-founders and any grants under the equity award inducement program will be made outside of a shareholder approved equity plan pursuant to the inducement award exception contained in NYSE Listing Rule 303A.08.
About Edgewell
Edgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick® and Wilkinson Sword® men's and women's shaving systems and disposable razors; Edge® and Skintimate® shave preparations; Playtex®, Stayfree®, Carefree® and o.b.® feminine care products; Banana Boat®, Hawaiian Tropic®, Bulldog®, Jack Black®, and CREMO® sun and skin care products; and Wet Ones® moist wipes. The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan, the U.K. and Australia, with approximately 5,800 employees worldwide.
About Billie, Inc.
Billie provides women with quality shaving supplies and premium body care products designed to make a daily routine a little more delightful and a lot more affordable. Our products include 5-blade razors encased in charcoal shave soap with a magnetic handle and holder, shaving cream, body wash and body lotion. Billie donates
View original content to download multimedia:https://www.prnewswire.com/news-releases/edgewell-announces-grants-of-inducement-equity-awards-in-connection-with-billie-inc-acquisition-301437237.html
SOURCE Edgewell Personal Care Company
FAQ
What is the value of the stock options granted to Billie co-founders by Edgewell?
When do the stock options for Billie co-founders vest?
How will the acquisition of Billie impact Edgewell's market position?
What is Billie, Inc. known for?
What does Edgewell's equity award inducement program entail?
