Herbalife Grants Stock Appreciation Rights to Chief Strategy Officer, Stephan Gratziani
LOS ANGELES, August 04, 2023--(BUSINESS WIRE)--Herbalife Ltd. (NYSE: HLF), a premier health and wellness company, announced today that, as previewed in its August 2, 2023 press release, and as a material inducement to Mr. Stephan Gratziani agreeing to become employed by the Company, the Company has granted Mr. Gratziani an award of 470,809 time-based stock appreciation rights, with a base price of $18.61 per share. The award of stock appreciation rights will vest in two equal installments on the first and second anniversaries of the grant date. The award, which was granted outside of the Company’s 2023 Stock Incentive Plan, was approved by the Compensation Committee of the Company’s Board of Directors and made pursuant to the terms of a stock appreciation right award agreement entered into with Mr. Gratziani. The award was granted without shareholder approval as an "employment inducement award" under Section 303A.08 of the New York Stock Exchange Listed Company Manual.
About Herbalife Ltd.
Herbalife (NYSE: HLF) is a premier health and wellness company and community that has been changing people's lives with great nutrition products and a business opportunity for its independent distributors since 1980. The Company offers science-backed products to consumers in more than 90 markets through entrepreneurial distributors who provide one-on-one coaching and a supportive community that inspires their customers to embrace a healthier, more active lifestyle in order to live their best life.
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