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Vancouver, British Columbia--(Newsfile Corp. - March 12, 2021) - good natured Products Inc. (TSXV: GDNP) (the "Company" or "good natured®"), today announced that pursuant to the Company's Omnibus Equity Incentive Compensation Plan, the Company has granted stock options ("Options"), deferred share units ("DSUs"), performance share units ("PSUs") and restricted share units ("RSUs" and together with the Options, DSUs and PSUs, the "Equity Incentives") to certain employees, officers and directors of the Company.
Options to purchase 687,000 common shares were granted, with an exercise price of $1.29 per common share. Twenty-five percent (25%) of each grant vests on March 11, 2022 with the balance vesting in equal monthly increments over the following three years. Each option is exercisable, once vested, for a period of seven years from the date of the grant.
The Company also granted an aggregate of:
128,000 DSUs, vesting 1/2 per year on each of December 31, 2021 and December 31, 2022;
963,710 PSUs, vesting 1/2 per year on each of December 31, 2021 and December 31, 2022 and in accordance with certain performance criteria set by the Company and 493,333 PSUs vesting following board approval of the financial results for the financial year ending December 31, 2021 in accordance with certain performance criteria set by the Company; and
198,250 RSUs vesting 1/3 per year on each of March 10, 2023, March 10, 2023 and March 10, 2024 and 756,750 RSUs vesting 1/2 per year on each of March 10, 2022 and March 10, 2023.
Each DSU, PSU and RSU entitles the holder thereof to receive either one Common Share, the cash equivalent of one Common Share or a combination of cash and Common Shares, as determined by the Company.
The granting of all Equity Incentives is subject to TSX Venture approval.
The good natured® corporate profile can be found at: investor.goodnaturedproducts.com.
About good natured® Products Inc.
good natured® is passionately pursuing its goal of becoming North America's leading earth-friendly product company by offering the broadest assortment of eco-friendly options made from plants instead of petroleum. We're all about making it easy and affordable for business owners and consumers to switch to better everyday products® made from renewable materials and free from chemicals of concern.
Part of the sustainable consumer goods market, good natured® offers over 385 products and services through wholesale and retail channels, including our own e-commerce stores. From plant-based home organization products to compostable food containers, bioplastic industrial supplies and medical packaging, we're focused on delivering a great customer experience to make more plant-based products readily accessible to more people as the path to deliver meaningful environmental and social impact.
For more information: goodnaturedproducts.com.
On behalf of the Company:
Paul Antoniadis - Executive Chair & CEO
1-877-286-0617 ext. 113
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.
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