Gentherm Reports Grant of Previously Announced CEO and CFO Inducement Awards Under Nasdaq Listing Rule
Gentherm (NASDAQ:THRM) announced the grant of inducement equity awards to its newly appointed executives. William Presley, President and CEO, received 123,135 restricted stock units (RSUs), while Jonathan Douyard, Executive VP, CFO and Treasurer, received 52,398 RSUs.
The awards, effective February 24, 2025, were granted as material inducements for their employment and will vest equally over three years on the anniversary of the grant date, contingent on continued employment. While the RSUs align with terms in Gentherm's 2023 Equity Incentive Plan, they were granted outside of it under Nasdaq Rule 5635(c)(4).
Gentherm (NASDAQ:THRM) ha annunciato l'assegnazione di premi azionari di indennizzo ai suoi nuovi dirigenti. William Presley, Presidente e CEO, ha ricevuto 123.135 unità azionarie vincolate (RSU), mentre Jonathan Douyard, Vicepresidente Esecutivo, CFO e Tesoriere, ha ricevuto 52.398 RSU.
I premi, con decorrenza dal 24 febbraio 2025, sono stati concessi come incentivi materiali per il loro impiego e matureranno in modo uniforme nel corso di tre anni, all'anniversario della data di concessione, a condizione di un impiego continuativo. Sebbene le RSU siano in linea con i termini del Piano di Incentivazione Azionaria 2023 di Gentherm, sono state concesse al di fuori di esso ai sensi della Regola Nasdaq 5635(c)(4).
Gentherm (NASDAQ:THRM) anunció la concesión de premios de acciones como incentivo a sus nuevos ejecutivos. William Presley, Presidente y CEO, recibió 123,135 unidades de acciones restringidas (RSUs), mientras que Jonathan Douyard, Vicepresidente Ejecutivo, CFO y Tesorero, recibió 52,398 RSUs.
Los premios, efectivos a partir del 24 de febrero de 2025, se otorgaron como incentivos materiales para su empleo y se consolidarán de manera equitativa durante tres años en el aniversario de la fecha de concesión, sujeto a empleo continuo. Si bien las RSUs están alineadas con los términos del Plan de Incentivo de Capital 2023 de Gentherm, se otorgaron fuera de este bajo la Regla Nasdaq 5635(c)(4).
Gentherm (NASDAQ:THRM)는 새로 임명된 임원들에게 유인 주식 보상을 부여했다고 발표했습니다. William Presley 사장 겸 CEO는 123,135개의 제한 주식 단위(RSU)를 받았고, Jonathan Douyard 부사장 겸 CFO 및 재무 담당자는 52,398개의 RSU를 받았습니다.
이 보상은 2025년 2월 24일부터 유효하며, 그들의 고용에 대한 물질적 유인으로 부여되었고, 부여일의 기념일에 따라 3년 동안 균등하게 분할되어 계속 고용되는 조건으로 지급됩니다. RSU는 Gentherm의 2023년 주식 인센티브 계획의 조건과 일치하지만, Nasdaq 규칙 5635(c)(4)에 따라 이에 포함되지 않고 부여되었습니다.
Gentherm (NASDAQ:THRM) a annoncé l'octroi de récompenses en actions d'incitation à ses nouveaux dirigeants. William Presley, Président et CEO, a reçu 123 135 unités d'actions restreintes (RSU), tandis que Jonathan Douyard, Vice-Président Exécutif, CFO et Trésorier, a reçu 52 398 RSU.
Les récompenses, effectives à partir du 24 février 2025, ont été accordées comme incitations matérielles pour leur emploi et seront acquises de manière égale sur trois ans à l'anniversaire de la date d'octroi, sous réserve d'un emploi continu. Bien que les RSU soient conformes aux conditions du Plan d'Incitation en Actions 2023 de Gentherm, elles ont été accordées en dehors de celui-ci conformément à la règle Nasdaq 5635(c)(4).
Gentherm (NASDAQ:THRM) gab die Gewährung von Anreiz-Eigenkapitalpreisen an seine neu ernannten Führungskräfte bekannt. William Presley, Präsident und CEO, erhielt 123.135 eingeschränkte Aktieneinheiten (RSUs), während Jonathan Douyard, Executive VP, CFO und Schatzmeister, 52.398 RSUs erhielt.
Die Preise, die ab dem 24. Februar 2025 wirksam sind, wurden als materielle Anreize für ihre Anstellung gewährt und werden gleichmäßig über drei Jahre am Jahrestag des Gewährungsdatums fällig, vorausgesetzt, sie bleiben weiterhin beschäftigt. Während die RSUs mit den Bedingungen im Gentherm 2023 Equity Incentive Plan übereinstimmen, wurden sie außerhalb dieses Plans gemäß der Nasdaq-Regel 5635(c)(4) gewährt.
- RSU grants align executive compensation with long-term company performance and shareholder interests
- Three-year vesting schedule promotes executive retention
- Potential dilution of existing shareholders from new RSU issuance
William Presley and Jonathan Douyard received inducement RSU grants in accordance with their offer letters and pursuant to Nasdaq Rule 5635(c)(4)
NOVI, Mich., Feb. 24, 2025 (GLOBE NEWSWIRE) -- Gentherm (NASDAQ:THRM), a global market leader of innovative thermal management and pneumatic comfort technologies, today announced that the Compensation and Talent Committee (the “Committee”) of the Board of Directors has granted inducement equity awards to newly appointed William Presley, President and Chief Executive Officer, and Jonathan Douyard, Executive Vice President, Chief Financial Officer and Treasurer, each effective February 24, 2025. The awards were made in accordance with the previously announced offer letters entered into between Gentherm and each of Mr. Presley and Mr. Douyard, and were material inducements to the new employees entering into employment with Gentherm.
Mr. Presley and Mr. Douyard were granted awards consisting of 123,135 and 52,398 restricted stock units (“RSUs”), respectively, that vest in equal portions annually on each of the first three anniversaries of the grant date, subject to their respective continued employment with Gentherm. The RSUs generally have terms and conditions consistent with those set forth in the Gentherm Incorporated 2023 Equity Incentive Plan, but were granted outside of such plan. The grants were approved by the Committee in reliance on the employment inducement exemption under Rule 5635(c)(4) of the Nasdaq Marketplace Rules, which requires this public announcement.
Investor Contact
Gregory Blanchette
investors@gentherm.com
248.308.1702
Media Contact
Melissa Fischer
media@gentherm.com
248.289.9702
About Gentherm
Gentherm (NASDAQ: THRM) is a global market leader of innovative thermal management and pneumatic comfort technologies. Automotive products include variable temperature Climate Control Seats®, heated automotive interior systems (including heated seats, steering wheels, armrests and other components), battery performance solutions, cable systems, lumbar and massage comfort solutions, valve system technologies, and other electronic devices. Medical products include patient temperature management systems. The Company is also developing a number of new technologies and products that will help enable improvements to existing products and to create new product applications for existing and new markets. Gentherm has more than 14,000 employees in facilities in the United States, Germany, China, Czech Republic, Hungary, Japan, Malta, Mexico, Morocco, North Macedonia, South Korea, United Kingdom, Ukraine, and Vietnam. For more information, go to www.gentherm.com.
FAQ
How many RSUs did Gentherm (THRM) grant to its new CEO William Presley?
What is the vesting schedule for the THRM executive RSU grants announced in February 2025?
How many RSUs did Gentherm grant to new CFO Jonathan Douyard?
Under which Nasdaq rule were THRM's executive inducement awards granted?
