Herbalife Ltd., a leading health and wellness company, has awarded 470,809 stock appreciation rights to its new employee, Mr. Stephan Gratziani, who recently joined the company. The stock appreciation rights have a base price of $18.61 per share and will vest in two equal installments on the first and second anniversaries of the grant date.
The decision to grant these stock appreciation rights to Mr. Gratziani was made as a material inducement to encourage his employment with Herbalife. The award was approved by the Compensation Committee of the company’s Board of Directors and falls under the category of an employment inducement award as per Section 303A.08 of the New York Stock Exchange Listed Company Manual.
Herbalife’s stock appreciation rights were granted outside of the company’s 2023 Stock Incentive Plan and were made in accordance with the terms of a stock appreciation right award agreement entered into with Mr. Gratziani. It is worth noting that this award was granted without requiring shareholder approval.
Herbalife has been a prominent name in the health and wellness industry since 1980, offering a wide range of science-backed products in over 90 markets. The company operates through a network of independent distributors who provide personalized coaching and support to their customers, promoting a healthier and more active lifestyle.
The awarding of stock appreciation rights to Mr. Gratziani signifies Herbalife’s commitment to attracting top talent and ensuring that its employees are incentivized to contribute to the company’s growth and success. This move reflects the company’s dedication to creating a supportive community that inspires individuals to embrace healthier living.
By granting these stock appreciation rights, Herbalife aims to motivate its employees to perform at their best and drive the company towards continued expansion and innovation. The award serves as a recognition of their hard work and dedication while fostering a sense of ownership and alignment with the overall goals of the organization.
Herbalife continues to thrive as a leader in the health and wellness industry, leveraging its extensive product offerings and strong distributor network to cater to the evolving needs of consumers worldwide. With its focus on science-backed nutrition and a supportive community, Herbalife remains poised to help individuals achieve their health and wellness objectives and live their best lives.
