Sportsman’s Warehouse Holdings, Inc. Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Sportsman’s Warehouse Holdings, Inc. announced an inducement grant of 124,610 time-based restricted stock units to the CEO, Paul Stone, under Nasdaq Listing Rule 5635(c)(4). The RSUs will vest in three equal installments over the next three years, subject to Mr. Stone's continued service.

WEST JORDAN, Utah, May 02, 2024 (GLOBE NEWSWIRE) -- Sportsman’s Warehouse Holdings, Inc. (“Sportsman’s Warehouse” or the “Company”) (Nasdaq: SPWH) announced today that, effective as of May 1, 2024, the Compensation Committee (the “Committee”) of the Company’s Board of Directors granted an inducement award consisting of 124,610 time-based restricted stock units (“RSUs”) to Paul Stone, the Company’s chief executive officer. The award was a signing bonus granted as an inducement material to Mr. Stone’s commencement of employment with Sportsman’s Warehouse in accordance with Nasdaq Listing Rule 5635(c)(4).

The award is subject to the terms and conditions of the Sportsman’s Warehouse Holdings, Inc. Inducement Plan and the terms and conditions of a restricted stock unit award agreement. Each RSU represents the right to receive one share of the Company’s common stock. The RSUs will vest in three equal installments, with one third of the underlying shares vesting on each of May 1, 2025, May 1, 2026 and May 1, 2027, subject to Mr. Stone’s continued service through such dates.

About Sportsman’s Warehouse Holdings, Inc.

Sportsman’s Warehouse Holdings, Inc. is an outdoor specialty retailer focused on meeting the needs of the seasoned outdoor veteran, the first-time participant, and everyone in between. We provide outstanding gear and exceptional service to inspire outdoor memories.

For press releases and certain additional information about the Company, visit the Investor Relations section of the Company’s website at www.sportsmans.com.

Investor Contact:
Riley Timmer
Vice President, Investor Relations
Sportsman’s Warehouse
(801) 304-2816
investors@sportsmans.com

FAQ

What is the recent announcement by Sportsman’s Warehouse Holdings, Inc.?

Sportsman’s Warehouse Holdings, Inc. announced an inducement grant of 124,610 time-based restricted stock units to CEO Paul Stone.

Who is the recipient of the inducement award?

Paul Stone, the chief executive officer of Sportsman’s Warehouse Holdings, Inc., is the recipient of the inducement award.

What are the terms of the inducement award?

The award consists of time-based restricted stock units that will vest in three equal installments over the next three years, subject to Mr. Stone's continued service.