TOWN SPORTS INTERNATIONAL HOLDINGS, INC. (NASDAQ:CLUB) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
On March 13, 2018, the Board of Directors of Town Sports International Holdings, Inc. (the “Company” or “TSI Holdings”) approved the Town Sports International Holdings, Inc. 2018 Management Stock Purchase Plan, as Amended and Restated on March 13, 2018 (the “Amended MSPP”), which amends and restates the Town Sports International Holdings, Inc. 2018 Management Stock Purchase Plan (the “MSPP”). The changes to the MSPP approved by the Board of Directors of the Company include, but are not limited to, a revision to the definition of “Market Value” to clarify the calculation, a revision to the determination of “Purchase Price” as it relates to the purchase of shares to the MSPP, and a revision to the limitation on a MSPP participant’s purchase of shares of TSI Holdings common stock to change the limitation period from a 12-month period to a calendar year period.
The foregoing description of the Amended MSPP is qualified in its entirety by reference to the full text of the Amended MSPP, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
| Exhibit No. | Description |
| 10.1 | Town Sports International Holdings, Inc. 2018 Management Stock Purchase Plan, as Amended and Restated on March 13, 2018. |
TOWN SPORTS INTERNATIONAL HOLDINGS INC ExhibitEX-10.1 2 ex101to8k11125001_03192018.htm Exhibit 10.1 TOWN SPORTS INTERNATIONAL HOLDINGS,…To view the full exhibit click here
About TOWN SPORTS INTERNATIONAL HOLDINGS, INC. (NASDAQ:CLUB)
Town Sports International Holdings, Inc. (Town Sports) is an owner and operator of fitness clubs in the Northeast and Mid-Atlantic regions of the United States. The Company, through its subsidiaries, operates over 150 fitness clubs (clubs) and approximately three BFX Studio (studio) locations. The Company’s operating segments include New York Sports Clubs (NYSC), Boston Sports Clubs (BSC), Philadelphia Sports Clubs (PSC), Washington Sports Clubs (WSC), Swiss Sports Clubs and BFX Studio. It owns and operates over 105 clubs under the NYSC brand name within New York City, including in approximately 40 locations in Manhattan. It owns and operates approximately 30 clubs in the Boston region under BSC brand name, over 10 fitness clubs in the Washington, District of Columbia region under WSC brand name, and approximately five clubs in the Philadelphia region under PSC brand name. In addition, it owns and operates approximately three fitness clubs in Switzerland.