CELSIUS HOLDINGS, INC. (OTCMKTS:CELH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
On October 23, 2019, the Company’s compensation committee granted 100,000 shares of common stock to John Fieldly, our Chief Executive Officer, to the Company’s 2015 Stock Incentive Plan (the “Plan”). Of the shares granted to Mr. Fieldly, 40,000 vested on the grant date and 60,000 will vest on October 23, 2020, subject to the determination by the Company’s Board of Directors, in its sole discretion, that Func Food Group Oyj, a Finnish corporation (“Func Food”), which was acquired by the Company effective October 25, 2019, has been successfully integrated into the Company.
On October 23, 2019, the Company’s compensation committee granted 50,000 shares of common stock to Edwin Negron-Carballo, our Chief Financial Officer, to the Plan. Of the shares granted to Mr. Negron-Carballo, 20,000 vested on the grant date and 30,000 will vest on October 23, 2020, subject to the determination by the Company’s Board of Directors, in its sole discretion, that Func Food has been successfully integrated into the Company.
With respect to the share grants described above, the employee will be entitled to reduce the share grant amount by thirty percent (30%) in which case the Company will pay all federal income tax arising from the grant of shares.
In addition, on October 23, 2019, Mr. Fieldly and Mr. Negron-Carballo were each granted options under the Plan to purchase 150,000 shares of the Company’s common stock for an exercise price of $3.23. The options vest in three equal annual installments commencing on the first anniversary of the grant date. The stock options expire on the date that is ten years from the grant date.
About CELSIUS HOLDINGS, INC. (OTCMKTS:CELH)
Celsius Holdings, Inc. is engaged in the development, marketing, sale and distribution of functional calorie-burning fitness beverages under the Celsius brand name. The Company’s product range includes Sparkling Grape Rush, Sparkling Watermelon, Sparkling Orange, Sparkling Wild Berry, Sparkling Cola, Raspberry Acai Green Tea, Peach Mango Green Tea, Flo Fusion Orange and Flo Fusion Berry. The Company’s products are sweetened with sucralose, which is suitable for consumers whose sugar intake is restricted. The Company’s Celsius brand uses ingredients and supplements, such as green tea (EGCG), ginger, calcium, chromium, B vitamins and vitamin C. The Company outsources the manufacturing process to third-party co-packers. It provides co-packers with flavors, ingredient blends, cans and other raw materials for its beverages purchased by it from various suppliers. It sells Celsius brand across retail segments, which include supermarkets and convenience stores.
