Fossil announces inducement grant under Nasdaq listing rule

Fossil Group is granting an equity award as a material inducement to the employment of the Company’s newly-hired Chief Executive Officer, Franco Fogliato. In connection with the appointment of Mr. Fogliato as Chief Executive Officer effective September 18, 2024, the Company is granting Fogliato an employment inducement award consisting of 1,500,000 time-based restricted stock units with an effective grant date of October 15, 2024. The RSUs will vest 50% on the first anniversary of the Grant Date and 50% on the second anniversary of the Grant Date, subject to Fogliato’s continuous employment with the Company on each vesting date. The inducement award to Fogliato was granted as a material inducement to his employment and was approved by the Company’s Board of Directors on September 1, 2024, in accordance with Nasdaq Listing Rule 5635(c)(4). The award was granted outside the Company’s equity incentive plan.