Steven Paul Lawrence, Academy Sports & Outdoors, Inc.'s EVP & CMO, has just filed an initial statement of beneficial ownership where 170,499 shares of Academy Sports & Outdoors, Inc. were declared. This form is usually filed as a prelude to receiving options or buying company shares, so there may be more to come from Lawrence. Lawrence operates out of Katy, TX. Some additional info was provided as follows:
Granted under the Company's 2020 Omnibus Incentive Plan.
Each restricted stock unit represents a contingent right upon vesting to receive one share of Issuer common stock, par value $0.01 per share ("Common Stock").
On March 31, 2021, the Reporting Person was granted 12,226 performance-based restricted stock units. These performance-based restricted stock units vest if certain performance criteria and/or Issuer stock price conditions are met and certified by the Issuer's compensation committee. The number of shares of Common Stock that the Reporting Person may be entitled to receive upon vesting, if any, may vary from 0% to 100% of the number shown above based on the Issuer's achievement of certain performance criteria for fiscal 2021, and will vest in four equal annual installments beginning on the date of certification by the Issuer's compensation committee and thereafter on or after the second, third and fourth anniversaries of the Vesting Commencement Date (i.e., January 31, 2021), or upon certification by the Issuer's compensation committee of achievement of certain Issuer stock price conditions as of the fourth anniversary of the Vesting Commencement Date.
These time-based options vest in four equal installments beginning on first anniversary of the grant date.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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Other recent filings from the company include the following: