FGL Holdings Grants Employee Inducement Awards Pursuant to NYSE Rule 303A.08
DES MOINES, Iowa, Dec. 21, 2018 /PRNewswire/ -- FGL Holdings (NYSE: FG) (or the "Company"), a leading provider of annuities and life insurance, today announced that in connection with the hiring of Christopher Blunt as President and Chief Executive Officer, and Jonathan Bayer as Head of Corporate Development and Strategy, respectively, the Board granted Mr. Blunt and Mr. Bayer each two equity awards on December 21, 2018. Pursuant to New York Stock Exchange Rule 303A.08, the Company notes that the equity awards include an "employment inducement award" of non-qualified stock options made outside of the Company's 2017 Omnibus Incentive Plan, but generally with terms and conditions consistent with those set forth in that plan.
The first award for each executive, comprised of non-qualified stock options, vests 50% on the passage of time over five years and 50% subject to time- and performance-based goals, as established and communicated by the Board on an annual basis (each, an "Initial Award"). In addition, each executive received an award of non-qualified stock options that vest solely upon the achievement of certain performance-based targets relating to the Company's return on equity and certain stock price goals (each, a "Stretch Award"). Specifically, Mr. Blunt received an Initial Award of 3,200,000 non-qualified stock options and a Stretch Award of 613,476 non-qualified stock options, and Mr. Bayer received an Initial Award of 1,800,000 non-qualified stock options and a Stretch Award of 306,738 non-qualified stock options.
About FGL Holdings
FGL Holdings, an insurance holding company, helps middle-income Americans prepare for retirement. Through its subsidiaries, the company is a leading provider of annuity and life insurance products. FGL Holdings, domiciled in the Cayman Islands, trades on the New York Stock Exchange under the ticker symbol FG. For more information, please visit www.fglife.bm.
Forward Looking Statements
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995: This document contains, and certain oral statements made by our representatives from time to time may contain, forward-looking statements. Such statements are subject to risks and uncertainties that could cause actual results, events and developments to differ materially from those set forth in, or implied by, such statements. These statements are based on the beliefs and assumptions of FGL Holdings' management and the management of FGL Holdings' subsidiaries (including target businesses). Forward-looking statements are generally identifiable by use of the words "believes," "expects," "intends," "anticipates," "plans," "seeks," "estimates," "projects," "may," "will," "could," "might," or "continues" or similar expressions. Factors that could cause actual results, events and developments to differ include, without limitation: the accuracy of FGL Holdings' assumptions and estimates; FGL Holdings' and its insurance subsidiaries' ability to maintain or improve financial strength ratings; FGL Holdings' ability to manage its business in a highly regulated industry; regulatory changes or actions; the impact of FGL Holdings' reinsurers failing to meet their assumed obligations; restrictions on FGL Holdings' ability to use captive reinsurers; the impact of interest rate fluctuations; changes in the federal income tax laws and regulations; litigation (including class action litigation), enforcement investigations or regulatory scrutiny; the performance of third parties; the loss of key personnel; telecommunication, information technology and other operational systems failures; the continued availability of capital; new accounting rules or changes to existing accounting rules; general economic conditions; FGL Holdings' ability to protect its intellectual property; the ability to maintain or obtain approval of the Iowa Insurance Department and other regulatory authorities as required for FGL Holdings' operations; FGL Holdings' ability to successfully acquire new companies and integrate such acquisitions; and other factors discussed in FGL Holdings' most recent Annual Report on Form 10-K for the year ended December 31, 2017, and its Quarterly Reports on Form 10-Q, which can be found at the SEC's website www.sec.gov.
All forward-looking statements described herein are qualified by these cautionary statements and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. FGL Holdings does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operation results, except as required by law.
Investor Contact
Diana J. Hickert-Hill
FGL Holdings
410-487-0992
Media Contact
Jonathan Keehner / Kate Clark / Tim Ragones
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
SOURCE FGL Holdings
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