Hall of Fame Resort & Entertainment Company Announces Inducement Equity Grants

Rhea-AI Summary

Hall of Fame Resort & Entertainment Company (HOFV) announced the granting of restricted stock units (RSUs) to two newly appointed executives. Olivia Steier received 66,460 RSUs for her role as EVP Content Development/Distribution, and Scott Langerman was granted 131,694 RSUs as EVP Media Business Development. These inducement awards align with their employment offers and are set to vest in three increments over three years. The grants are not part of the Company’s 2020 Omnibus Incentive Plan but follow similar terms and conditions.

Positive

• Two new executives appointed with substantial RSU grants to align incentives.
• Inducement awards structured to promote long-term commitment with vesting over three years.

Negative

• None.

CANTON, Ohio--(BUSINESS WIRE)--Hall of Fame Resort & Entertainment Company (“HOFV” or the “Company”) (NASDAQ: HOFV, HOFVW), the only resort, entertainment and media company centered around the power of professional football and owner of the Hall of Fame Village powered by Johnson Controls in Canton, Ohio, today announced that it granted to Olivia Steier, as an inducement to accept her appointment as EVP Content Development / Distribution, 66,460 restricted stock units (the “RSUs”) with respect to the Company’s common stock, $0.0001 par value. The Company also granted to Scott Langerman, as an inducement to accept his appointment as EVP Media Business Development, 131,694 RSUs. The grants were made as inducement awards in accordance with each executive’s offer of employment and were not granted under the Company’s 2020 Omnibus Incentive Plan (the “2020 Plan”), but are subject to substantially the same terms and conditions as the 2020 Plan. For each executive, the grants, which are subject to award agreements, will vest in one-third increments on each of the first, second and third anniversary of such executive’s start date, subject to continued service through each applicable vesting date.

About the Hall of Fame Resort & Entertainment Company

The Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) is a resort and entertainment company leveraging the power and popularity of professional football and its legendary players in partnership with the Pro Football Hall of Fame. Headquartered in Canton, Ohio, the Hall of Fame Resort & Entertainment Company is the owner of the Hall of Fame Village powered by Johnson Controls, a multi-use sports, entertainment and media destination centered around the Pro Football Hall of Fame's campus. Additional information on the Company can be found at www.HOFREco.com.