VANCOUVER, Wash.--(BUSINESS WIRE)--Nautilus, Inc. (NYSE: NLS) today announced that it has granted equity awards that were approved by the Compensation Committee of Nautilus’ Board of Directors on December 11, 2019, as a material inducement to employment to Ms. Aina Konold, who was appointed Chief Financial Officer on December 10, 2019. The equity awards were approved, and are being announced in this press release, in accordance with NYSE Listed Company Rule 303A.08.
Ms. Konold was granted an initial inducement grant of 200,000 restricted stock units (“RSUs”). The initial inducement RSUs will vest in three equal annual installments on the first three anniversaries of the date of Ms. Konold’s appointment, subject to Ms. Konold’s continued service until each vesting date. Also as a material inducement to employment, Ms. Konold was granted a second inducement grant of 160,000 RSUs. The second inducement RSUs will vest in three equal annual installments on the first three anniversaries of May 2020, subject to Ms. Konold’s continued service until each vesting date. The vesting of the inducement RSUs will be fully accelerated in the event of certain changes in control of Nautilus, and the equity awards 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.