LAKE SUCCESS, N.Y., May 17, 2019 /PRNewswire/ -- The Hain Celestial Group, Inc. (Nasdaq: HAIN) ("Hain Celestial" or the "Company"), a leading organic and natural products company with operations in North America, Europe, Asia and the Middle East providing consumers with A Healthier Way of Life™, today announced that the independent Compensation Committee of the Company's Board of Directors approved an inducement award for a new employee, Kevin McGahren, Executive Vice President, and President North America, who will be responsible for leading Hain Celestial's teams in North America including marketing and research and development (the "Inducement Award").
The Inducement Award was granted on May 15, 2019 under The Hain Celestial Group, Inc. 2019 Equity Inducement Award Program, which was approved by the Company's Board of Directors on February 15, 2019 and provides for the granting of equity awards to new employees of the Company. The Inducement Award was granted as an inducement material to Mr. McGahren's acceptance of employment with the Company, in accordance with NASDAQ Listing Rule 5635(c)(4).
Mr. McGahren will receive an inducement award of 213,390 Performance Share Units ("PSUs") intended to represent long-term incentive opportunities for fiscal years 2019 to 2021. The total shares earned pursuant to the Inducement Award shall range from 0 to 213,390 based upon the Company's achievement of certain pre-established performance goals with respect to compound annual total shareholder return over the three-year period beginning on November 6, 2018, aligned with the inducement award granted to Mark. L Schiller, President and Chief Executive Officer, in connection with his hire.
About The Hain Celestial Group, Inc.
The Hain Celestial Group (Nasdaq: HAIN), headquartered in Lake Success, NY, is a leading organic and natural products company with operations in North America, Europe, Asia and the Middle East. Hain Celestial participates in many natural categories with well-known brands that include Alba Botanica®, Almond Dream®, Arrowhead Mills®, Avalon Organics®, Bearitos®, Better Bean®, BluePrint®, Casbah®, Celestial Seasonings®, Clarks™, Coconut Dream®, Cully & Sully®, Danival®, DeBoles®, Earth's Best®, Ella's Kitchen®, Europe's Best®, Farmhouse Fare™, Frank Cooper's®, Gale's®, Garden of Eatin'®, GG UniqueFiber™, Hain Pure Foods®, Hartley's®, Health Valley®, Imagine®, JĀSÖN®, Johnson's Juice Co.®, Joya®, Lima®, Linda McCartney's® (under license), Live Clean®, MaraNatha®, Mary Berry (under license), Natumi®, New Covent Garden Soup Co.®, Orchard House®, Queen Helene®, Rice Dream®, Robertson's®, Rudi's Gluten-Free Bakery®, Rudi's Organic Bakery®, Sensible Portions®, Spectrum Organics®, Soy Dream®, Sun-Pat®, Sunripe®, SunSpire®, Terra®, The Greek Gods®, Tilda®, Walnut Acres®, Yorkshire Provender®, Yves Veggie Cuisine® and William's™.
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SOURCE The Hain Celestial Group, Inc.