On July 10, 2017, the Board of Directors (the "Board") of Vista Outdoor Inc. (“Vista Outdoor” or the “Company”) announced that it has elected Michael Callahan, the Company’s then Lead Independent Director, to serve as interim Chairman and Chief Executive Officer effective July 11, 2017, replacing Mark W. DeYoung. On July 14, 2017, the independent members of the Board approved a compensatory arrangement with Mr. Callahan in connection with his appointment to the position of interim Chairman and Chief Executive Officer.

The compensation arrangement with Mr. Callahan, effective as of the date of his appointment on July 11, 2017, includes payment to Mr. Callahan of (1) an annualized base salary of $800,000; (2) an annual cash bonus to be paid at the end of his employment with the Company in an amount equal to the greater of (a) 50% of the base salary actually paid to Mr. Callahan for the time period he serves as the Interim Chairman and Chief Executive Officer or (b) $400,000, such annual cash bonus to be paid on or promptly following the date that a new Chief Executive Officer begins employment with the Company; and (3) an annual award of restricted stock units to be made to the Company’s 2014 Stock Incentive Plan following the annual meeting of stockholders, having a value equal to $110,000, which units shall vest on the first anniversary of the date of grant, subject to his continued service on the Board through the applicable vesting date.

The compensation described above will end and, provided that Mr. Callahan is then serving as a member of the Board, his compensation as an independent member of the Board will resume, including both cash and equity compensation in the amounts previously approved by the Board for independent members thereof before Mr. Callahan’s appointment to the role of Interim Chairman and Chief Executive Officer, effective on the date a new Chief Executive Officer begins employment with the Company. Because only non-employee directors receive compensation for service on the Board, Mr. Callahan will not receive director compensation during his service as Interim Chairman and Chief Executive Officer.

About Vista Outdoor Inc. (NYSE:VSTO)

Vista Outdoor Inc. is a designer, manufacturer and marketer of consumer products in the outdoor sports and recreation markets. The Company operates through two segments: Shooting Sports and Outdoor Products. Its Shooting Sports segment designs, develops, produces and sources ammunition and firearms for the hunting and sport shooting enthusiast markets, as well as ammunition for local law enforcement, the United States Government and international markets. Its Outdoor Products segment product lines include archery/hunting accessories, global eyewear and sport protection, golf, hydration products, optics, shooting accessories, tactical products and water sports. The Company serves the outdoor sports and recreation markets through a diverse portfolio of over 40 brands. It serves a range of end consumers, including outdoor enthusiasts, hunters and recreational shooters, athletes, as well as law enforcement and military professionals. It offers cooking solutions through Camp Chef brand.