Fortune Brands (NYSE: FBIN) CEO awarded 850,000 PSUs and 300,000 stock options
Rhea-AI Filing Summary
Fortune Brands Innovations, Inc. reported that Chief Executive Officer Jesse G. Singh received new equity awards. He was granted 850,000 Performance Stock Units, each representing a contingent right to one share of common stock, and 300,000 stock options with an exercise price of $53.93 per share.
The options were granted under an Inducement Stock Option Award and will vest in three equal annual installments beginning on July 1, 2027. The performance stock units were granted under an Inducement Performance Share Award and vest in two 50% tranches on the third and fourth anniversaries of the grant date.
The performance stock units are earned based on specified stock price performance hurdles measured over a three-year performance period from July 1, 2026 to July 1, 2029, subject to continued employment. After these grants, Singh’s reported derivative holdings from these awards total 850,000 performance stock units and 300,000 options, all held directly.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Options (Right to Buy) | 300,000 | $0.00 | -- |
| Grant/Award | Performance Stock Units | 850,000 | $0.00 | -- |
Footnotes (1)
- Reflects the grant of options under the issuer's Inducement Stock Option Award. The options vest in three equal annual installments beginning on July 1, 2027. Reflects the grant of performance stock units under the issuer's Inducement Performance Share Award. Each performance stock unit granted represents a contingent right to receive one share of the issuer's common stock. The performance stock units vest in 50% increments on the third anniversary and fourth anniversary of the grant date and are earned based on the achievement of specified stock price performance hurdles during a three-year performance period beginning on July 1, 2026 and ending on July 1, 2029, subject to continued employment.