FitLife Brands (FTLF) grants president stock options and PSUs
Rhea-AI Filing Summary
FitLife Brands President Ryan P. Hansen received new equity awards. He was granted 50,000 performance stock units, plus 46,500 incentive stock options and 28,500 non-qualified stock options, each for common stock. The options have a $10.50 exercise price, time-based vesting over three years, and expire on May 15, 2031.
The 50,000 performance stock units vest only if the 30-day volume weighted average price of FitLife’s common stock reaches at least $20.00 before the fifth anniversary of the grant, aligning part of his compensation with longer-term share price performance.
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Insights
Routine equity grants align the president’s pay with FitLife’s share performance.
Reporting person Ryan P. Hansen, President of FitLife Brands, received three equity awards: 46,500 incentive stock options, 28,500 non-qualified stock options, and 50,000 performance stock units. All were granted at a $10.50 exercise price for the options and a $0 grant price.
Footnotes state the options were issued under the 2019 Omnibus Incentive Plan, with one-third vesting after one year and the rest over the following two years, subject to continued service. The performance stock units vest only if the 30-day volume weighted average price reaches $20.00 before the fifth anniversary, linking value to sustained stock price levels.
These are compensation awards rather than open-market purchases or sales, so they do not indicate active trading sentiment. Subsequent company filings may clarify how much of these awards ultimately vest based on service and the performance condition.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Options | 28,500 | $0.00 | -- |
| Grant/Award | Stock Options | 46,500 | $0.00 | -- |
| Grant/Award | Performance Stock Units | 50,000 | $0.00 | -- |
Footnotes (1)
- Represents incentive stock options granted in connection with the Reporting Person's appointment as President, issued pursuant to the Issuer's 2019 Omnibus Incentive Plan. One-third (1/3) of the stock options vest on the one-year anniversary of the grant date, with the remainder vesting in equal increments on each of the second and third anniversary thereafter, subject to continued service. Represents non-qualified stock options granted in connection with the Reporting Person's appointment as President, issued pursuant to the Issuer's 2019 Omnibus Incentive Plan. Represents performance stock units ("PSUs") granted in connection with the Reporting Person's appointment as President, issued pursuant to the Issuer's 2019 Omnibus Equity Incentive Plan. Each PSU represents a contingent right to receive one share of the Issuer's common stock upon vesting, subject to continued service. The PSU will vest on such date that the 30 day volume weighted average price ("VWAP") for shares of the Issuer's common stock meets or exceeds $20.00, and expire on the fifth anniversary of the grant date if not then vested.