Avon grants inducement equity awards to new CFO

Avon grants inducement equity awards to new CFO

Avon has announced that it has granted its new Chief Financial Officer, Gustavo Arnal, inducement equity awards in connection with the commencement of his employment.

Arnal will be the beneficiary of a long-term inducement program with target amounts of 242,340 premium-priced stock options to acquire shares of Avon’s common stock at a per share exercise price of 120 percent of the per share closing sales price on the date of the grant.

Arnal will also receive 221,936 performance-based restricted stock units, of which 96,936 will vest based on service and the attainment of performance conditions over a three-year period and 125,000 will vest based on service over a three-year period; and 96,936 service-based restricted stock units, which will vest based on service over a three-year period.

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