Fossil Group, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(C)(4)
Fossil Group (NASDAQ: FOSL) announced equity awards as inducement grants for three newly appointed executives.
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Rhea-AI Summary
Fossil Group (NASDAQ: FOSL) announced equity awards as inducement grants for three newly appointed executives. The company is granting restricted stock units (RSUs) to:
- Antonio Carriero (Chief Digital Information Officer and GM EMEA): 100,000 RSUs
- Joe Martin (Chief Commercial Officer): 129,581 RSUs
- Randy Greben (Chief Financial Officer): 150,000 RSUs
The RSUs, effective April 15, 2025, will vest in three equal installments on the first, second, and third anniversaries of the grant date, contingent on continuous employment. These inducement awards were approved by the Compensation and Talent Management Committee on March 4, 2025, in compliance with Nasdaq Listing Rule 5635(c)(4), and were granted outside the company's equity incentive plan.
Positive
- Strategic executive team expansion with three key C-level appointments
- Structured retention incentives through multi-year vesting schedule
Negative
- Potential future shareholder dilution from 379,581 new RSUs
Details
News Market Reaction – FOSL
The recorded move for FOSL in the trading session of this news was -4.66%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
RICHARDSON, Texas, April 15, 2025 (GLOBE NEWSWIRE) -- Fossil Group, Inc. (NASDAQ: FOSL) (the “Company”) today announced that it is granting equity awards as a material inducement to the employment of the Company’s newly-hired Chief Digital Information Officer and General Manager EMEA, Antonio Carriero; Chief Commercial Officer, Joe Martin; and Chief Financial Officer, Randy Greben.
In connection with the appointments of Carriero effective February 12, 2025, Martin effective February 17, 2025, and Greben effective March 17, 2025, the Company is granting Carriero an employment inducement award consisting of 100,000 time-based restricted stock units (“RSUs”), Martin an employment inducement award consisting of 129,581 RSUs and Greben an employment inducement award consisting of 150,000 RSUs.
All three grants have an effective grant date of April 15, 2025 (the “Grant Date”). The RSUs will vest one third on the first, second and third anniversaries, respectively, of the Grant Date, subject to each officer’s continuous employment with the Company on each vesting date.
The inducement awards to Carriero, Martin and Greben were granted as a material inducement to their employment and were approved by the Company’s Compensation and Talent Management Committee on March 4, 2025, in accordance with Nasdaq Listing Rule 5635(c)(4). The awards were granted outside the Company’s equity incentive plan.
About Fossil Group, Inc.
Fossil Group, Inc. is a global design, marketing, distribution and innovation company specializing in lifestyle accessories. Under a diverse portfolio of owned and licensed brands, our offerings include watches, jewelry, handbags, small leather goods, belts and sunglasses. We are committed to delivering the best in design and innovation across our owned brands, Fossil, Michele, Relic, Skagen and Zodiac, and licensed brands, Armani Exchange, Diesel, Emporio Armani, kate spade new york, Michael Kors and Tory Burch. We bring each brand story to life through an extensive distribution network across numerous geographies, categories, and channels. Certain press release and SEC filing information concerning the Company is also available at www.fossilgroup.com.
Global Corporate Communications:
James Webb
Fossil Group
jwebb1@fossil.com
Investor Relations:
Christine Greany
The Blueshirt Group
christine@blueshirtgroup.com
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