ORLANDO, Fla., May 8, 2020 /PRNewswire/
-- Tupperware Brands Corporation (NYSE: TUP) (the
"Company") today announced that the Compensation Committee of the
Company's Board of Directors (the "Committee") approved an
inducement equity award for recently hired new executive
Marco Brandolini, Vice President,
Commercial for Europe, the
Middle East and Africa (EMEA).
The award was approved in order to induce Mr. Brandolini to
enter into employment with the Company on May 4, 2020 and was granted outside of the
Company's stockholder approved equity incentive plan, in reliance
on the employment inducement award exception under NYSE Listing
Rule 303A.08. The Company is issuing this press release pursuant to
the requirements of that rule.
Mr. Brandolini received a grant of restricted stock with a grant
date of May 4, 2020 and a fair market
value calculated using the closing share price on the date of grant
of $200,000. The grant will vest in
full on the third anniversary of grant.
About Tupperware Brands Corporation
Tupperware Brands Corporation is a leading global manufacturer
and marketer of innovative, premium products through social
selling. Product brands span several categories including
design-centric food preparation, storage and serving solutions for
the kitchen and home through the Tupperware brand and beauty and
personal care products through the Avroy Shlain, Fuller Cosmetics,
NaturCare, Nutrimetics and Nuvo brands. For more information, visit
tupperwarebrands.com.
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SOURCE Tupperware Brands Corporation