WEST JORDAN, Utah, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Sportsman’s Warehouse Holdings, Inc. (“Sportsman’s Warehouse” or the “Company”) (Nasdaq: SPWH) announced today that, effective as of November 1, 2023, the Compensation Committee (the “Committee”) of the Company’s Board of Directors granted an inducement award consisting of 330,097 time-based restricted stock units (“RSUs”) to Paul Stone, the Company’s new chief executive officer. The award was 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 November 1, 2024, November 1, 2025 and November 1, 2026, 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.
Vice President, Investor Relations
Source: Sportsman's Warehouse Holdings, Inc.