European Wax Center, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
European Wax Center (NASDAQ: EWCZ), the leading U.S. franchisor of out-of-home waxing services, has announced equity inducement grants for two new executive appointments. Angela Jaskolski, the new Chief Operating Officer, received 125,000 restricted stock units (RSUs) and stock options to purchase 465,000 shares at various exercise prices ($4.66, $9.00, and $12.00).
Kurtis Smith, appointed as Chief Development Officer, was granted 95,000 RSUs and options to purchase 350,000 shares at similar price points ($4.69, $9.00, and $12.00). Both grants, effective August 2025, were made under the company's 2025 Inducement Plan and will vest over four years, subject to continued employment.
Positive
- Company strengthens executive team with new COO and CDO appointments
- Structured equity compensation aligns management interests with shareholders through varied strike prices
- Four-year vesting schedule promotes long-term executive retention
Negative
- Potential dilution from total of 220,000 new RSUs and 815,000 stock options
- Current stock price ($4.66-$4.69) significantly below higher strike prices ($9.00 and $12.00) indicates challenging growth targets
PLANO, Texas, Aug. 19, 2025 (GLOBE NEWSWIRE) -- European Wax Center, Inc. (NASDAQ: EWCZ) (the “Company” or “European Wax Center”), the leading franchisor and operator of out-of-home waxing services in the United States, announced that effective as of August 18, 2025, and in connection with the previously announced appointment of Angela Jaskolski as the Company’s Chief Operating Officer, the Company’s Board of Directors (the “Board”) approved grants of (i) restricted stock units (“RSUs”) covering 125,000 shares of the Company’s Class A common stock (the “Jaskolski RSUs”), (ii) non-qualified stock option awards to purchase 195,000 shares of the Company’s Class A common stock with an exercise price of
The Jaskolski RSUs and Jaskolski Options were granted pursuant to the Company’s 2025 Inducement Plan. The Jaskolski RSUs will vest in equal installments on each of the first four anniversaries of August 18, 2025, and the Jaskolski Options will vest in full on the fourth anniversary of August 18, 2025, in each case subject to Ms. Jaskolski’s continued employment with the Company on each such date. The Jaskolski RSUs and Jaskolski Options are subject to the terms and conditions of the Company’s 2025 Inducement Plan and the terms and conditions of the RSU award agreement and stock option award agreement covering the applicable grant.
The Company also announced that effective as of August 14, 2025, and in connection with the previously announced appointment of Kurtis Smith as the Company’s Chief Development Officer, the Board approved grants of (i) RSUs covering 95,000 shares of the Company’s Class A common stock (the “Smith RSUs”), (ii) non-qualified stock option awards to purchase 150,000 shares of the Company’s Class A common stock with an exercise price of
The Smith RSUs and Smith Options were granted pursuant to the Company’s 2025 Inducement Plan. The Smith RSUs will vest in equal installments on each of the first four anniversaries of July 22, 2025, and the Smith Options will vest in full on the fourth anniversary of July 22, 2025, in each case subject to Mr. Smith’s continued employment with the Company on each such date. The Smith RSUs and Smith Options are subject to the terms and conditions of the Company’s 2025 Inducement Plan and the terms and conditions of the RSU award agreement and stock option award agreement covering the applicable grant.
The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of the Company (or following a bona fide period of non-employment), as an inducement material to such individuals’ entering into employment with the Company, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules. The Jaskolski RSUs, Jaskolski Options, Smith RSUs and Smith Options were granted as such inducement material to Ms. Jaskolski and Mr. Smith, respectively, entering into employment with the Company.
About European Wax Center, Inc.
European Wax Center, Inc. (NASDAQ: EWCZ) is the leading franchisor and operator of out-of-home waxing services in the United States. European Wax Center locations perform more than 23 million services per year, providing guests with an unparalleled, professional personal care experience administered by highly trained wax specialists within the privacy of clean, individual waxing suites. The Company continues to revolutionize the waxing industry with its innovative Comfort Wax® formulated with the highest quality ingredients to make waxing a more efficient and relatively painless experience, along with its collection of proprietary products to help enhance and extend waxing results. By leading with its values – We Care About Each Other, We Do the Right Thing, We Delight Our Guests, and We Have Fun While Being Awesome – the Company is proud to be Certified™ by Great Place to Work®. European Wax Center, Inc. was founded in 2004 and is headquartered in Plano, Texas. Its network, which includes more than 1,000 centers in 44 states, generated sales of
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Edelman Smithfield
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Zeno Group Sophia Tortorella
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FAQ
What equity compensation did European Wax Center (EWCZ) grant to its new COO Angela Jaskolski?
What inducement grants did EWCZ provide to new CDO Kurtis Smith?
When will the European Wax Center executive inducement grants vest?
What is the purpose of EWCZ's 2025 Inducement Plan?
What are the current stock price implications for EWCZ's new option grants?
