PGT Innovations Makes Unprecedented $4 Million Restricted Stock Grant to Employees
December 11 2018 - 2:21PM
Business Wire
PGT Innovations (NYSE:PGTI), a national leader in the premium
window and door category, has announced a one-time grant of
restricted stock to more than 3,000 employees, with the amount of
restricted stock based on each employee’s tenure.
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Jeff Jackson, PGT Innovations CEO and
President. (Photo: Business Wire)
“As our company continues to grow and expand into new markets,
all of our team members help us achieve success with a company
culture centered around integrity, safety, innovation, and
sustainable growth,” said PGT Innovations CEO and President Jeff
Jackson. “To thank our hard-working team members, we will invest
approximately $4 million over the next three years for this
unprecedented restricted stock grant. We hope that it fuels our
team’s pride of ownership and rewards them for their great work,
which has helped propel PGT Innovations to be a national leader in
the premium window and door manufacturing industry.”
All team members who have worked at PGT Innovations for one year
or longer, and are not already participants in the company’s annual
long-term incentive plan, will receive a grant of restricted stock
in January 2019. On the third anniversary of the grant date,
employees who had one-to-two years of service as of the grant date
will be given 50 shares of PGTI common stock, team members who had
two-to-five years of service as of the grant date will receive 75
shares of PGTI common stock, and employees with over five years of
employment as of the grant date will be awarded with 100 shares of
PGTI common stock. Current employees with less than one year of
service will receive their grant of restricted stock in January
2020.
In July 2018, the company announced a one-time stock grant that
provided 10 shares of common stock to each of its team members who
were not already participants in the company’s annual long-term
incentive plan. This marked the first time that every employee at
PGT Innovations became a company shareholder.
About PGT Innovations, Inc.
PGT Innovations manufactures and supplies premium windows and
doors. Its highly engineered and technically advanced products can
withstand some of the toughest weather conditions on earth and are
revolutionizing the way people live by unifying indoor and outdoor
living spaces.
PGT Innovations creates value through deep customer
relationships, understanding the unstated needs of the markets it
serves and a drive to develop category-defining products. PGT
Innovations is also the nation’s largest manufacturer of
impact-resistant windows and doors, holds the leadership position
in its primary market, and is part of the S&P SmallCap 400
Index.
The PGT Innovations’ family of brands include CGI®, PGT® Custom
Windows & Doors, WinDoor®, Western Window Systems, and CGI
Commercial. The company’s brands, in their respective markets, are
a preferred choice of architects, builders, and homeowners
throughout North America and the Caribbean. Their high-quality
products are available in custom and standard sizes with massive
dimensions that allow for unlimited design possibilities in
residential, multi-family, and commercial projects. For additional
information, visit www.pgtinnovations.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20181211005858/en/
PGT InnovationsMedia RelationsDanielle Mikesell, Senior
Vice President, Marketing &
InnovationDMikesell@PGTInnovations.com941-480-1600
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