NEW YORK, April 27, 2017 /PRNewswire/ -- Weight
Watchers International, Inc. (NYSE: WTW) announced that, in
connection with the previously announced appointment of
Mindy Grossman as President and
Chief Executive Officer, it has agreed to grant her an employment
inducement equity award. As previously disclosed in a Current
Report on Form 8-K filed with the Securities and Exchange
Commission on April 26, 2017 (the
"Prior 8-K"), Weight Watchers has agreed to grant Ms. Grossman
initial equity awards on her first day of employment, which will
include a grant of 500,000 nonqualified stock options with an
exercise price per share equal to $60.00 (the "Inducement Options"). These
Inducement Options will have a seven year term and proportionately
vest annually over a four year period beginning with the first
anniversary of Ms. Grossman's employment commencement date.
These Inducement Options will be granted in reliance on the
employment inducement exemption provided under the New York Stock
Exchange Listed Company Manual Rule 303A.08. The award of
these Inducement Options, along with the other previously disclosed
initial equity awards intended to be granted under the Weight
Watchers stock incentive plan, were a material inducement for Ms.
Grossman to join Weight Watchers. The material terms of all
of these initial equity awards were described in the Prior
8-K.
Ms. Grossman will commence service on July 5, 2017.
About Weight Watchers International, Inc.
Weight
Watchers International, Inc. is one of the most recognized and
trusted brand names among weight-conscious consumers. Weight
Watchers provides commercial weight management services through a
global network of Company-owned and franchise operations and offers
innovative, digital weight management products through its
websites, mobile sites and apps. These services and products are
built on the Company's weight management program, which helps
millions of people around the world lose weight through sensible
and sustainable food plans, activity, behavior modification and
group support. Weight Watchers has an unparalleled network of
service providers to assist members on their journey and also
offers a wide range of products, publications and programs for
those interested in weight loss and healthier living.
This news release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are based on management's
current expectations and beliefs, as well as a number of
assumptions concerning future events. These statements are subject
to risks, uncertainties, assumptions and other important factors.
Readers are cautioned not to put undue reliance on such
forward-looking statements because actual results may vary
materially from those expressed or implied. The reports filed by
the Company pursuant to United States securities laws
contain discussions of these risks and uncertainties. The Company
assumes no obligation to, and expressly disclaims any obligation
to, update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Readers are
advised to review the Company's filings with the United States
Securities and Exchange Commission (which are available from
the SEC's EDGAR database at www.sec.gov, at
various SEC reference facilities in the United
States and via the Company's website
at www.weightwatchersinternational.com).
Contact
Information:
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Investors:
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Media:
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Brainerd
Communicators,
Inc.
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Jenny
Zimmerman
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Corey
Kinger
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(212)
589-2784
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(212)
986-6667
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jenny.zimmerman@weightwatchers.com
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kinger@braincomm.com
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SOURCE Weight Watchers International, Inc.