NUTRACEUTICAL INTERNATIONAL CORPORATION (NASDAQ:NUTR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k
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NUTRACEUTICAL INTERNATIONAL CORPORATION (NASDAQ:NUTR) 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 Compensatory Arrangements of Certain Officers.

Equity Grants to Named Executive Officers
On December 9, 2016, the Compensation Committee approved the
grant of 100,000 performance-based stock units (PSUs) under the
2013 Long-Term Equity Incentive Plan (the Plan) to be made on
December 14, 2016 to certain officers and employees of
Nutraceutical. The PSUs are a new element of the Companys
executive compensation program. Subject to certain exceptions,
the PSUs vest at the end of a three-year performance period,
which ends on September 30, 2019. The awards include the
following grants to the named executive officers:
Officer
Performance-Based Stock Units
Frank W. Gay II
20,000
Jeffrey A. Hinrichs
8,000
Christopher B. Neuberger
8,000
Cory J. McQueen
6,000
Stanley E. Soper
7,000
The new performance-based incentive program is comprised of
awards to certain executives of PSUs that generally vest based on
the achievement of pre-set financial targets over a three-year
performance period. The two applicable performance criteria are:
first, three fiscal year moving average growth in revenue, and,
second, three year adjusted EBITDA average margin performance.
Each of these performance criteria receives consideration in
determining the actual number of PSUs that are ultimately
eligible to vest, which can range from 0% up to 210% of the
target number of PSUs granted.
The performance period for the initial grants is October 1, 2016
through September 30, 2019. Vesting does not occur until the end
of the performance period, except that accelerated vesting can
occur in the event of death, disability, retirement under certain
conditions and certain change in control events.
The form of Performance Stock Unit Grant Notice and Award
Agreement to be used for the grants of performance-based stock
units, which was approved by the Compensation Committee, is
attached hereto as Exhibit 10.1.
The above summary of the terms of the PSUs is qualified in its
entirety by reference to the terms of the Performance Stock Unit
Grant Notice and Award Agreement.
Item 9.01 Financial Statements and Exhibits.>
Nutraceutical herewith files the following documents as exhibits
to this Current Report on Form 8-K:
(d) Exhibits
Exhibit
Number
Description
10.1
Form of Performance Stock Unit Grant Notice and Award
Agreement


About NUTRACEUTICAL INTERNATIONAL CORPORATION (NASDAQ:NUTR)

Nutraceutical International Corporation is an integrated manufacturer, marketer, distributor and retailer of nutritional supplements and other natural products. The Company’s products include vitamins and minerals; herbs; specialty formulas; personal care products; liquid nutritional products; homeopathics; functional foods, and other products. It offers its products to and through domestic health and natural food stores. It acts as a distributor to the Healthy Foods Channel and to certain international markets for certain third-party brands. It manufactures and sells nutritional supplements and other natural products under numerous brands, including Solaray, KAL, Dynamic Health, Nature’s Life, LifeTime, Natural Balance, NaturalCare, Health from the Sun, Pioneer, Nutra BioGenesis, Life-flo, Organix South, Heritage Store and Monarch Nutraceuticals. It owns various natural food markets, such as The Real Food Company, Thom’s Natural Foods, Cornucopia Community Market and Granola’s.

NUTRACEUTICAL INTERNATIONAL CORPORATION (NASDAQ:NUTR) Recent Trading Information

NUTRACEUTICAL INTERNATIONAL CORPORATION (NASDAQ:NUTR) closed its last trading session up +0.60 at 34.60 with 32,972 shares trading hands.