Nautilus, Inc. Announces Inducement Grants
September 17 2021 - 4:05PM
Business Wire
Nautilus, Inc. (NYSE: NLS) (“Nautilus,” “the Company”), a global
leader in digitally connected home fitness solutions, today
announced that it has granted equity awards under the Nautilus,
Inc. Inducement Stock Plan for Vay AG Employees (the “Inducement
Stock Plan”), in connection with the acquisition of Vay AG.
The Company granted inducement awards under the Inducement Stock
Plan to fourteen employees of Vay AG consisting of an aggregate of
387,243 inducement restricted stock units and 387,243 inducement
performance units (at the target level). The restricted stock units
and performance unit awards were approved by the Compensation
Committee of the Board of Directors of the Company and were granted
under the Inducement Stock Plan as employment inducement awards
material to the new employees’ becoming employees of Nautilus in
accordance with New York Stock Exchange Rule 303A.08.
Each restricted stock unit will vest equally over a three-year
period, subject to such employee’s continued employment with
Nautilus on such vesting dates. The performance units were granted
at a target achievement level (“Target Shares”) and will vest after
three years based on performance against certain corporate
financial objectives over a three-year performance period (the
“Performance Goals”). The percentage of the Target Shares that vest
and become issuable under the performance unit awards will be
determined based on the achievement of the Performance Goals at
threshold, target and maximum levels with the minimum threshold set
at 30% of the Target Shares and the maximum set at 200% of the
Target Shares.
Each restricted stock unit award and performance unit award are
subject to the terms and conditions of the Inducement Stock Plan
and the terms and conditions of a restricted stock unit agreement
and a performance unit agreement covering the grant.
About Nautilus, Inc.
Nautilus, Inc. (NYSE:NLS) is a global leader in digitally
connected home fitness solutions. The company’s brand family
includes Bowflex®, Nautilus®, Schwinn®, and JRNY®, its digital
fitness platform. With a broad selection of exercise bikes, cardio
equipment, and strength training products, Nautilus, Inc. empowers
healthier living through individualized connected fitness
experiences; and in doing so, envisions building a healthier world,
one person at a time.
Headquartered in Vancouver, Washington, the company’s products
are sold direct to consumer on brand websites and through retail
partners and are available throughout the U.S. and internationally.
Nautilus, Inc. uses the investor relations page of its website
(www.nautilusinc.com/investors) to make information available to
its investors and the market.
About VAY
VAY specializes in computer vision and AI technology solutions
and has developed reliable and precise software solutions for human
motion analysis using any normal (RGB) camera from a device, such
as a laptop, smartphone, or tablet. With a mission to democratize
professional human motion analysis, VAY enables clients in fitness
& health to understand and analyze human movement, providing
personalized feedback on repetitions and form in real-time. VAY has
partnered with global leaders in connected fitness and digital
therapeutics. Based in Zurich, Switzerland, the company started
R&D in 2018 and was incorporated in 2019 as a spin-off of ETH
Zurich, one of the top science and technology universities in the
world. Since then, VAY has won multiple awards and has established
itself as the global leader of camera-based motion analysis for
fitness & health applications. To learn more, please visit
https://www.vay.ai/.
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version on businesswire.com: https://www.businesswire.com/news/home/20210917005470/en/
Media: John
Fread Nautilus, Inc
360-859-5815
jfread@nautilus.com
Investor Relations: John Mills ICR, LLC 646-277-1254
john.mills@ICRinc.com
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