Fossil Group, Inc. Announces Inducement Grant Under Nasdaq Listing Rule 5635(C)(4)
Fossil Group, Inc. (NASDAQ: FOSL) has announced an equity award as a material inducement for its newly-hired Chief Executive Officer, Franco Fogliato. The award consists of 1,500,000 time-based restricted stock units (RSUs) with an effective grant date of October 15, 2024. The RSUs will vest in two equal installments: 50% on the first anniversary and 50% on the second anniversary of the grant date, contingent on Fogliato's continuous employment with the company.
The inducement award was approved by Fossil Group's Board of Directors on September 1, 2024, in compliance with Nasdaq Listing Rule 5635(c)(4). It was granted outside the company's equity incentive plan and is intended to serve as a material inducement for Fogliato's employment, which began on September 18, 2024.
Fossil Group, Inc. (NASDAQ: FOSL) ha annunciato un premio azionario come incentivo materiale per il suo nuovo Amministratore Delegato, Franco Fogliato. Il premio consiste in 1.500.000 unità azionarie ristrette basate sul tempo (RSU) con una data di concessione effettiva del 15 ottobre 2024. Le RSU saranno assegnate in due rate uguali: 50% al primo anniversario e 50% al secondo anniversario della data di concessione, subordinatamente all'impiego continuativo di Fogliato presso l'azienda.
Il premio d'incentivo è stato approvato dal Consiglio di Amministrazione di Fossil Group il 1° settembre 2024, in conformità alla Regola di Quotazione Nasdaq 5635(c)(4). È stato concesso al di fuori del piano di incentivazione azionaria dell'azienda ed è inteso a servire come un incentivo materiale per l'impiego di Fogliato, che è iniziato il 18 settembre 2024.
Fossil Group, Inc. (NASDAQ: FOSL) ha anunciado un premio en acciones como incentivo material para su nuevo Director Ejecutivo, Franco Fogliato. El premio consiste en 1,500,000 unidades de acciones restringidas basadas en tiempo (RSUs) con una fecha de otorgamiento efectiva del 15 de octubre de 2024. Las RSUs se otorgarán en dos entregas iguales: 50% en el primer aniversario y 50% en el segundo aniversario de la fecha de otorgamiento, sujeto a la continuidad del empleo de Fogliato en la empresa.
El premio de incentivo fue aprobado por la Junta Directiva de Fossil Group el 1 de septiembre de 2024, de acuerdo con la Regla de Cotización 5635(c)(4) de Nasdaq. Se otorgó fuera del plan de incentivos en acciones de la empresa y se pretende servir como un incentivo material para el empleo de Fogliato, que comenzó el 18 de septiembre de 2024.
화석 그룹, Inc. (NASDAQ: FOSL)는 새로 고용된 최고경영자(CEO) 프란코 포글리아토를 위한 중요한 유인책으로 주식 보상안을 발표했습니다. 이 보상은 1,500,000주 의무 기반 제한 주식 단위(RSU)로, 실제 부여일은 2024년 10월 15일입니다. RSU는 두 차례에 걸쳐 동등하게 분배됩니다: 첫 번째 기념일에 50%와 두 번째 기념일에 50%, 포글리아토가 회사에 계속 재직하는 조건입니다.
이 유인 보상은 2024년 9월 1일 화석 그룹 이사회에서 승인되었으며, Nasdaq 상장 규칙 5635(c)(4)에 따라 시행되었습니다. 회사의 주식 인센티브 계획 외부에서 부여되었으며, 포글리아토의 고용을 위한 중요한 유인책으로 작용할 것입니다. 포글리아토의 고용은 2024년 9월 18일에 시작되었습니다.
Fossil Group, Inc. (NASDAQ: FOSL) a annoncé une attribution d'actions en tant qu'incitation matérielle pour son nouveau Directeur Général, Franco Fogliato. L'attribution consiste en 1 500 000 unités d'actions restreintes basées sur le temps (RSU) avec une date d'attribution effective du 15 octobre 2024. Les RSU seront acquises en deux versements égaux : 50 % à la première date anniversaire et 50 % à la deuxième date anniversaire de la date d'attribution, sous condition de l'emploi continu de Fogliato au sein de l'entreprise.
L'attribution d'incitation a été approuvée par le Conseil d'administration de Fossil Group le 1er septembre 2024, conformément à la règle de cotation Nasdaq 5635(c)(4). Elle a été accordée en dehors du plan d'incitation en actions de l'entreprise et est destinée à servir d'incitation matérielle pour l'emploi de Fogliato, qui a commencé le 18 septembre 2024.
Fossil Group, Inc. (NASDAQ: FOSL) hat eine Aktienvergütung als wesentlichen Anreiz für seinen neu eingestellten Chief Executive Officer, Franco Fogliato, bekannt gegeben. Die Vergütung besteht aus 1.500.000 zeitbasierten, eingeschränkten Aktieneinheiten (RSUs) mit einem effektiven Zuweisungsdatum vom 15. Oktober 2024. Die RSUs werden in zwei gleichen Tranchen fällig: 50% am ersten Jahrestag und 50% am zweiten Jahrestag des Zuweisungsdatums, abhängig von Fogliatos fortlaufender Anstellung bei dem Unternehmen.
Der Anreiz wurde am 1. September 2024 vom Board of Directors der Fossil Group genehmigt und entspricht der Nasdaq-Listing-Regel 5635(c)(4). Er wurde außerhalb des Aktienvergüteplans des Unternehmens gewährt und soll als wesentlicher Anreiz für Fogliatos Anstellung dienen, die am 18. September 2024 begann.
- Appointment of a new Chief Executive Officer, Franco Fogliato
- Significant equity award (1,500,000 RSUs) to attract and retain top executive talent
- Potential dilution of existing shareholders due to the large RSU grant
RICHARDSON, Texas, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Fossil Group, Inc. (NASDAQ: FOSL) (the “Company”) today announced that it is granting an equity award as a material inducement to the employment of the Company’s newly-hired Chief Executive Officer, Franco Fogliato.
In connection with the appointment of Mr. Fogliato as Chief Executive Officer effective September 18, 2024, the Company is granting Fogliato an employment inducement award consisting of 1,500,000 time-based restricted stock units (“RSUs”) with an effective grant date of October 15, 2024 (the “Grant Date”). The RSUs will vest
The inducement award to Fogliato was granted as a material inducement to his employment and was approved by the Company’s Board of Directors on September 1, 2024, in accordance with Nasdaq Listing Rule 5635(c)(4). The award was granted outside the Company’s equity incentive plan.
About Fossil Group, Inc.
Fossil Group, Inc. is a global design, marketing, distribution and innovation company specializing in lifestyle accessories. Under a diverse portfolio of owned and licensed brands, our offerings include watches, jewelry, handbags, small leather goods, belts and sunglasses. We are committed to delivering the best in design and innovation across our owned brands, Fossil, Michele, Relic, Skagen and Zodiac, and licensed brands, Armani Exchange, Diesel, DKNY, Emporio Armani, kate spade new york, Michael Kors and Tory Burch. We bring each brand story to life through an extensive distribution network across numerous geographies, categories, and channels. Certain press release and SEC filing information concerning the Company is also available at www.fossilgroup.com.
Global Corporate Communications:
James Webb
Fossil Group
jwebb1@fossil.com
Investor Relations:
Christine Greany
The Blueshirt Group
christine@blueshirtgroup.com
FAQ
How many restricted stock units (RSUs) did Fossil Group (FOSL) grant to its new CEO?
When will the RSUs granted to Fossil Group's (FOSL) new CEO vest?
When did Franco Fogliato start as CEO of Fossil Group (FOSL)?
Under which Nasdaq rule did Fossil Group (FOSL) grant the inducement award?
