Loar Holdings Inc. Announces the Grant of Inducement Awards
Loar Holdings (NYSE:LOAR) has announced the grant of 68,000 stock options to three new employees as inducement awards. The options are divided into five equal tranches (A through E), vesting annually over five years with escalating exercise prices. Tranche A vests after one year at the grant price, while subsequent tranches vest annually with exercise prices increasing by factors of 1.10, 1.21, 1.33, and 1.46 respectively. The options will expire after ten years or 90 days post-employment termination. These awards were granted without stockholder approval under NYSE Listed Company Manual Section 303A.08 and were approved by the Compensation Committee.
Loar Holdings (NYSE:LOAR) ha annunciato l'assegnazione di 68.000 opzioni su azioni a tre nuovi dipendenti come premi di indennità. Le opzioni sono suddivise in cinque tranche uguali (A fino a E), con maturazione annuale su un periodo di cinque anni e con prezzi di esercizio crescenti. La tranche A matura dopo un anno al prezzo di concessione, mentre le tranche successive maturano annualmente con prezzi di esercizio che aumentano di fattori di 1,10, 1,21, 1,33 e 1,46 rispettivamente. Le opzioni scadranno dopo dieci anni o 90 giorni dopo la cessazione del rapporto di lavoro. Questi premi sono stati concessi senza l'approvazione degli azionisti ai sensi della Sezione 303A.08 del Manuale delle Aziende quotate NYSE e sono stati approvati dal Comitato per la Compensazione.
Loar Holdings (NYSE:LOAR) ha anunciado la concesión de 68,000 opciones sobre acciones a tres nuevos empleados como premios de incentivo. Las opciones se dividen en cinco tramos iguales (A a E), que se adjudican anualmente durante cinco años con precios de ejercicio ascendentes. El tramo A se adjudica después de un año al precio de concesión, mientras que los tramos posteriores se adjudican anualmente con precios de ejercicio que aumentan en factores de 1.10, 1.21, 1.33 y 1.46 respectivamente. Las opciones expirarán después de diez años o 90 días tras la terminación del empleo. Estos premios se concedieron sin la aprobación de los accionistas bajo la Sección 303A.08 del Manual de Empresas Cotizadas de NYSE y fueron aprobados por el Comité de Compensation.
로어 홀딩스 (NYSE:LOAR)는 세 명의 신입사원에게 68,000 주식 옵션을 유인 수당으로 부여한다고 발표했습니다. 옵션은 A에서 E까지 다섯 개의 동일한 트랜치로 나뉘며, 다섯 년에 걸쳐 연간 베스팅되며 행사 가격이 상승합니다. A 트랜치는 부여 가격으로 1년 후에 베스팅되며, 이후의 트랜치는 연간 베스팅되며 각각 1.10, 1.21, 1.33 및 1.46의 계수로 행사 가격이 증가합니다. 옵션은 10년 후 또는 고용 종료 후 90일에 만료됩니다. 이 수당은 NYSE 상장 기업 매뉴얼 섹션 303A.08에 따라 주주 승인 없이 부여되었으며 보상위원회의 승인을 받았습니다.
Loar Holdings (NYSE:LOAR) a annoncé l'octroi de 68 000 options d'actions à trois nouveaux employés en tant que récompenses d'incitation. Les options sont divisées en cinq tranches égales (A à E), prenant effet annuellement sur cinq ans avec des prix d'exercice croissants. La tranche A prend effet après un an au prix d'octroi, tandis que les tranches suivantes prennent effet annuellement avec des prix d'exercice augmentant de facteurs de 1,10, 1,21, 1,33 et 1,46 respectivement. Les options expireront après dix ans ou 90 jours après la fin de l'emploi. Ces récompenses ont été accordées sans l'approbation des actionnaires selon la section 303A.08 du Manuel des entreprises cotées de NYSE et ont été approuvées par le Comité de rémunération.
Loar Holdings (NYSE:LOAR) hat die Gewährung von 68.000 Aktienoptionen an drei neue Mitarbeiter als Anreizvergütung bekannt gegeben. Die Optionen sind in fünf gleich große Tranchen (A bis E) aufgeteilt, die über einen Zeitraum von fünf Jahren jährlich mit steigenden Ausübungspreisen fällig werden. Tranche A wird nach einem Jahr zum Gewährungspreis fällig, während die nachfolgenden Tranchen jährlich mit Ausübungspreisen fällig werden, die um die Faktoren 1,10, 1,21, 1,33 und 1,46 steigen. Die Optionen verfallen nach zehn Jahren oder 90 Tage nach Beendigung des Arbeitsverhältnisses. Diese Vergaben wurden ohne die Zustimmung der Aktionäre gemäß Abschnitt 303A.08 des NYSE-Listingshandbuchs gewährt und wurden vom Vergütungsausschuss genehmigt.
- Strategic employee retention mechanism through graduated vesting schedule
- Exercise price structure incentivizes long-term stock price appreciation
- Potential dilution of existing shareholders through 68,000 new stock options
- Increasing exercise prices may reduce incentive value if stock price doesn't grow accordingly
Insights
WHITE PLAINS, NY / ACCESSWIRE / December 16, 2024 / Loar Holdings Inc. (NYSE:LOAR) ("Loar," "we" and "our"), today announced that it has granted options to purchase an aggregate of 68,000 shares of common stock to three new employees. The options to purchase common stock were granted without stockholder approval as material inducements to the employees entering into employment with Loar pursuant to NYSE Listed Company Manual Section 303A.08 and were approved by the Compensation Committee of the Board of Directors of Loar.
Each grant of options to purchase common stock is granted in five separate, equal size tranches: Tranche A, Tranche B, Tranche C, Tranche D and Tranche E. Tranche A vests on the first anniversary of the date of grant with an exercise price equal to the closing price of our common stock on the trading day immediately preceding the date of grant (the "Grant Price"). Tranche B vests on the second anniversary of the date of grant with an exercise price set at the product of 1.10 and the Grant Price. Tranche C vests on the third anniversary of the date of grant with an exercise price set at the product of 1.21 and the Grant Price. Tranche D vests on the fourth anniversary of the date of grant with an exercise price set at the product of 1.33 and the Grant Price. Tranche E vests on the fifth anniversary of the date of grant with an exercise price set at the product of 1.46 and the Grant Price. The options will expire on the earlier of (i) ten years from the grant date or (ii) 90 days after termination of employment other than upon death, disability or cause. The options to purchase common stock are subject to individual award agreements.
About Loar Holdings Inc.
Loar Holdings Inc. is a diversified manufacturer and supplier of niche aerospace and defense components that are essential for today's aircraft and aerospace and defense systems. Loar has established relationships across leading aerospace and defense original equipment manufacturers and Tier Ones worldwide.
Forward Looking Statements
This press release contains forward-looking statements. These statements are not historical facts but rather are based on Loar's current expectations and projections regarding its business, operations and other factors relating thereto. Words such as "may," "will," "could," "would," "should," "anticipate," "predict," "potential," "continue," "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, uncertainties related to market conditions, volatility in the price of Loar's common stock, and other factors relating to Loar's business described in the Company's Prospectus dated December 12, 2024, filed with the Securities and Exchange Commission ("SEC") as it may be amended from time to time, and Loar's latest Quarterly Report on Form 10-Q, including under the caption "Risk Factors," and Loar's subsequent filings with the SEC. Any forward-looking statement in this press release speaks only as of the date of this release. Loar undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable laws.
Contact
Ian McKillop
Loar Holdings Investor Relations
IR@loargroup.com
SOURCE: Loar Group Inc.
View the original press release on accesswire.com
FAQ
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