Fossil Group announces equity awards for new executives as employment inducements, effective April 15, 2025.
Quiver AI Summary
Fossil Group, Inc. has announced the granting of equity awards to three newly appointed executives as an inducement for their employment. Antonio Carriero, the new Chief Digital Information Officer and General Manager EMEA, will receive 100,000 time-based restricted stock units (RSUs), while Chief Commercial Officer Joe Martin is awarded 129,581 RSUs and Chief Financial Officer Randy Greben is given 150,000 RSUs. The effective grant date for these awards is April 15, 2025, with vesting occurring in thirds over the next three years, contingent on their continued employment. The grant was approved by the Company’s Compensation and Talent Management Committee and was made outside the existing equity incentive plan. Fossil Group specializes in lifestyle accessories and operates a diverse portfolio of both owned and licensed brands.
Potential Positives
- The appointment of experienced executives, including the new Chief Digital Information Officer, Chief Commercial Officer, and Chief Financial Officer, signifies a strategic move to enhance leadership and innovation within the company.
- The equity awards granted as inducements demonstrate the company's commitment to attracting and retaining top talent in key positions, potentially driving future growth.
- The sizeable number of RSUs granted to these executives could align their interests with those of the shareholders, fostering a culture of accountability and performance-driven results.
Potential Negatives
- The announcement of significant equity awards for new executives may raise concerns about the company's financial health, suggesting a need to attract talent with large inducements rather than strong internal advancement.
- The awards being granted outside the company’s equity incentive plan could indicate potential governance issues or a lack of established protocols for such significant compensation packages.
- The necessity to provide substantial inducement awards might reflect difficulties in attracting qualified candidates, raising concerns about the company's leadership stability and operational challenges.
FAQ
What recent executive appointments did Fossil Group announce?
Fossil Group announced the appointments of Antonio Carriero, Joe Martin, and Randy Greben to key executive roles.
What equity awards were granted to the new executives?
The new executives received time-based restricted stock units (RSUs): 100,000 for Carriero, 129,581 for Martin, and 150,000 for Greben.
When will the RSUs for the executives vest?
The RSUs will vest one third on the first, second, and third anniversaries of the grant date, April 15, 2025.
Why were these equity awards granted?
The inducement awards were granted as a material inducement for the executives' employment, approved by the Compensation and Talent Management Committee.
Where can more information about Fossil Group be found?
More information about Fossil Group, including press releases and SEC filings, is available at www.fossilgroup.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$FOSL Insider Trading Activity
$FOSL insiders have traded $FOSL stock on the open market 2 times in the past 6 months. Of those trades, 2 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $FOSL stock by insiders over the last 6 months:
- FRANCO FOGLIATO (CEO) has made 2 purchases buying 250,000 shares for an estimated $359,159 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$FOSL Hedge Fund Activity
We have seen 30 institutional investors add shares of $FOSL stock to their portfolio, and 21 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- NANTAHALA CAPITAL MANAGEMENT, LLC added 1,421,399 shares (+74.6%) to their portfolio in Q4 2024, for an estimated $2,373,736
- MILLER VALUE PARTNERS, LLC added 1,237,880 shares (+92.9%) to their portfolio in Q4 2024, for an estimated $2,067,259
- UBS GROUP AG added 567,345 shares (+4372.3%) to their portfolio in Q4 2024, for an estimated $947,466
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 485,086 shares (+inf%) to their portfolio in Q4 2024, for an estimated $810,093
- FIRST EAGLE INVESTMENT MANAGEMENT, LLC added 330,725 shares (+inf%) to their portfolio in Q4 2024, for an estimated $552,310
- D. E. SHAW & CO., INC. removed 308,703 shares (-75.8%) from their portfolio in Q4 2024, for an estimated $515,534
- FUND 1 INVESTMENTS, LLC added 287,864 shares (+286.1%) to their portfolio in Q4 2024, for an estimated $480,732
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
RICHARDSON, Texas, April 15, 2025 (GLOBE NEWSWIRE) -- Fossil Group, Inc. (NASDAQ: FOSL) (the “Company”) today announced that it is granting equity awards as a material inducement to the employment of the Company’s newly-hired Chief Digital Information Officer and General Manager EMEA, Antonio Carriero; Chief Commercial Officer, Joe Martin; and Chief Financial Officer, Randy Greben.
In connection with the appointments of Carriero effective February 12, 2025, Martin effective February 17, 2025, and Greben effective March 17, 2025, the Company is granting Carriero an employment inducement award consisting of 100,000 time-based restricted stock units (“RSUs”), Martin an employment inducement award consisting of 129,581 RSUs and Greben an employment inducement award consisting of 150,000 RSUs.
All three grants have an effective grant date of April 15, 2025 (the “Grant Date”). The RSUs will vest one third on the first, second and third anniversaries, respectively, of the Grant Date, subject to each officer’s continuous employment with the Company on each vesting date.
The inducement awards to Carriero, Martin and Greben were granted as a material inducement to their employment and were approved by the Company’s Compensation and Talent Management Committee on March 4, 2025, in accordance with Nasdaq Listing Rule 5635(c)(4). The awards were granted outside the Company’s equity incentive plan.
About Fossil Group, Inc.
Fossil Group, Inc. is a global design, marketing, distribution and innovation company specializing in lifestyle accessories. Under a diverse portfolio of owned and licensed brands, our offerings include watches, jewelry, handbags, small leather goods, belts and sunglasses. We are committed to delivering the best in design and innovation across our owned brands, Fossil, Michele, Relic, Skagen and Zodiac, and licensed brands, Armani Exchange, Diesel, Emporio Armani, kate spade new york, Michael Kors and Tory Burch. We bring each brand story to life through an extensive distribution network across numerous geographies, categories, and channels. Certain press release and SEC filing information concerning the Company is also available at www.fossilgroup.com .
Global Corporate Communications:
James Webb
Fossil Group
[email protected]
Investor Relations:
Christine Greany
The Blueshirt Group
[email protected]
