HOUSTON, June 2, 2020 /PRNewswire/ -- Kraton Corporation (NYSE:KRA) (the "Company") today announced the grant on June 1, 2020 (the "Grant Date") of restricted stock units ("RSUs") and performance-based restricted stock units ("PRSUs") to Mr. Mark Santangelo under Kraton Corporation's 2019 Equity Inducement Plan. The grants were offered as an inducement to Mr. Santangelo in connection with his employment with the Company as its Senior Vice President, Global Operations. The grants were approved by the Compensation Committee of the Company's Board Directors in reliance on the employment inducement exception to stockholder approval provided under New York Stock Exchange Listing Rule 303A.08.

Mr. Santangelo received 9,476 RSUs, which will vest ratably over three years and 9,476 PRSUs, which will vest on the third anniversary of the grant date subject to the satisfaction of certain performance conditions. Vesting for each grant is subject to Mr. Santangelo's remaining continuously employed with the Company through each such vesting date.

ABOUT KRATON

Kraton Corporation (NYSE: KRA) is a leading global sustainable producer of specialty polymers and high-value biobased products derived from pine wood pulping co-products. Kraton's polymers are used in a wide range of applications, including adhesives, coatings, consumer and personal care products, sealants and lubricants, and medical, packaging, automotive, paving and roofing applications. As the largest global provider in the pine chemicals industry, the company's pine-based specialty products are sold into adhesives and tire markets, and it produces and sells a broad range of performance chemicals into markets that include fuel additives, oilfield chemicals, coatings, roads, construction, metalworking fluids and lubricants, inks, and mining. Kraton offers its products to a diverse customer base in numerous countries worldwide.

Kraton, the Kraton logo and design, are all trademarks of Kraton Polymers LLC or its affiliates.

For Further Information:
H. Gene Shiels 281-504-4886

 

Kraton Corporation Logo (PRNewsFoto/)

 

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/kraton-corporation-grants-employment-inducement-award-to-senior-vice-president-global-operations-pursuant-to-nyse-rule-303a08-301068874.html

SOURCE Kraton Corporation

Copyright 2020 PR Newswire

Kraton (NYSE:KRA)
Historical Stock Chart
From Jun 2020 to Jul 2020 Click Here for more Kraton Charts.
Kraton (NYSE:KRA)
Historical Stock Chart
From Jul 2019 to Jul 2020 Click Here for more Kraton Charts.