Poly (NYSE: PLT) today announced that it has granted equity awards that were approved by the Leadership Development and Compensation Committee (the “Committee”) of Poly’s Board of Directors on October 26, 2020, as a material inducement to employment to Lisa Bodensteiner, who was appointed Executive Vice President, Chief Legal and Compliance Officer and Corporate Secretary, effective as of October 30, 2020.
The awards made to Ms. Bodensteiner are as follows. First, an award of 15,000 restricted stock units (“RSUs”) granted on November 16, 2020 (the “Award Date”), which will vest in three equal annual installments commencing on the last calendar day of the month following each anniversary of the Award Date in accordance with the Company’s Equity Processes Policy, in each case subject to Ms. Bodensteiner’s continued employment with the Company on each applicable vesting date. Second, an award of 35,000 performance stock unit awards (“PSUs”) on the Award Date. The performance period for the PSUs will be aligned to the Company’s 2021 fiscal year for performance-based RSUs (the “PSU Plan”). The PSUs will vest in accordance with the terms of the PSU Plan, subject to Ms. Bodensteiner’s continued employment with the Company through the applicable vesting date.