LAKE SUCCESS, N.Y.,
Dec. 4, 2019 /PRNewswire/ -- The Hain
Celestial Group, Inc. (Nasdaq: HAIN) ("Hain Celestial" or the
"Company"), a leading organic and natural products company with
operations in North America,
Europe, Asia and the Middle
East providing consumers with A Healthier Way of Life™,
today announced that the independent Compensation Committee of the
Company's Board of Directors has made inducement awards (the
"Inducement Awards") to new Executive Vice President and Chief
Financial Officer, Javier H.
Idrovo.
The Inducement Awards were granted on December 2, 2019 under The Hain Celestial Group,
Inc. 2019 Equity Inducement Award Program, which was approved by
the Company's Board of Directors on February
15, 2019 and provides for the granting of equity awards to
new employees of the Company. The Inducement Awards were granted as
an inducement material to Mr. Idrovo's acceptance of employment
with the Company, in accordance with NASDAQ Listing Rule
5635(c)(4).
The Inducement Awards granted to Mr. Idrovo consist of the
following:
- An award of 100,000 performance share units, representing Mr.
Idrovo's long-term incentive opportunity for fiscal years 2020 and
2021 (the "LTIP PSU Award");
- A signing award of 40,017 performance share units, representing
one-time compensation intended to recognize the compensation Mr.
Idrovo forfeited from his former employer to join the Company (the
"Sign-On PSU Award"); and
- A signing award of 52,021 restricted share units, vesting in
two equal annual installments, representing one-time compensation
intended to recognize the compensation Mr. Idrovo forfeited from
his former employer to join the Company.
Each of the LTIP PSU Award and the Sign-On PSU Award will vest
based on the achievement of pre-established 3-year compound annual
Total Shareholder Return goals over the performance period from
November 6, 2018 to November 6, 2021, mirroring the performance goals
and other terms and conditions for awards made to other executive
officers under the Company's 2019-2021 Long-Term Incentive Plan.
Total shares earned under each of the LTIP PSU Award and the
Sign-On PSU Award will range from 0% to 300% of the target number
of shares. Accordingly, total shares earned under the LTIP PSU
Award will range from 0 to 300,000 shares, and total shares earned
under the Sign-On PSU Award will range from 0 to 120,051
shares.
About The Hain Celestial Group, Inc.
The Hain Celestial Group (Nasdaq: HAIN), headquartered in
Lake Success, NY, is a leading
organic and natural products company with operations in
North America, Europe, Asia
and the Middle East. Hain
Celestial participates in many natural categories with well-known
brands that include Almond Dream®, Bearitos®, Better Bean®,
BluePrint®, Casbah®, Celestial Seasonings®, Clarks™, Coconut
Dream®, Cully & Sully®, Danival®, DeBoles®, Earth's Best®,
Ella's Kitchen®, Europe's Best®,
Farmhouse Fare™, Frank Cooper's®,
Gale's®, Garden of Eatin'®, GG UniqueFiber™, Hain Pure Foods®,
Hartley's®, Health Valley®, Imagine™, Johnson's Juice Co.™, Joya®,
Lima®, Linda McCartney® (under license), MaraNatha®, Mary Berry (under license), Natumi®, New Covent
Garden Soup Co.®, Orchard House®, Rice Dream®, Robertson's®, Rudi's
Gluten-Free Bakery™, Rudi's Organic Bakery®, Sensible Portions®,
Spectrum® Organics, Soy Dream®, Sun-Pat®, Sunripe®, Terra®, The
Greek Gods®, Walnut Acres®, WestSoy®, Yorkshire Provender®, Yves
Veggie Cuisine® and William's™. The Company's personal care
products are marketed under the Alba Botanica®, Avalon Organics®,
Earth's Best®, JASON®, Live Clean® and Queen Helene® brands.
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SOURCE The Hain Celestial Group, Inc.