Nautilus, Inc. (NYSE: NLS) today announced it has granted a certain equity award as a material inducement to employment with Nautilus to Becky Alseth, who was appointed as Vice President, Marketing on March 2, 2020.
Ms. Alseth was granted an inducement grant of 25,000 restricted stock units (“RSUs”). The inducement RSUs will vest in full on the third anniversary of the date of Ms. Alseth’s appointment, subject to Ms. Alseth’s continued service through such vesting date. The vesting of the inducement RSUs will be fully accelerated in the event of certain changes in control of Nautilus.
The inducement RSUs were approved by the Compensation Committee of Nautilus’ Board of Directors on February 18, 2020, in accordance with NYSE Listed Company Rule 303A.08 and will be subject to terms and conditions that are substantially similar to RSUs granted under the Nautilus 2015 Long-Term Incentive Plan.
About Nautilus, Inc.
Headquartered in Vancouver, Washington, Nautilus, Inc. (NYSE: NLS) is a global technology-driven fitness solutions company that believes everyone deserves a fit and healthy life. With a brand portfolio including Bowflex®, Nautilus®, Octane Fitness®, and Schwinn®, Nautilus, Inc. develops innovative products to support healthy living through direct and retail channels as well as in commercial channels. Nautilus, Inc. uses the investor relations page of its website (www.nautilusinc.com/investors) to make information available to its investors and the market.