EAST GREENVILLE, Pa., Feb. 21, 2020 (GLOBE NEWSWIRE) — Knoll, Inc. (NYSE: KNL), a constellation of design-driven brands for the workplace and home, announced today that, in connection with its previously announced acquisition of Fully LLC, it approved the grant of a one-time equity inducement award of 296,554 shares of restricted stock to David Kahl, Founder and CEO of Fully. The inducement award was approved by the Compensation Committee of the Company’s Board of Directors on February 6, 2020 and effective on February 21, 2020.
The restricted shares vest equally over a four-year period based upon continuous employment with the Company or its subsidiaries and the achievement of certain performance targets for Fully over such period. There is a catch-up provision whereby all the shares may vest at the end of the four-year period if the aggregate performance over such period meets or exceeds the aggregate four-year target. The shares may vest on a pro-rata basis in the event of a separation of employment resulting from death, disability or “without cause” termination of Mr. Kahl, or in the event of resignation for “proper cause”.
Knoll, Inc. is a constellation of design-driven brands and people, working together with our clients to create inspired modern interiors. Our internationally recognized portfolio includes furniture, textiles, leathers, lighting, accessories, and architectural and acoustical elements. Our brands — Knoll Office, KnollStudio, KnollTextiles, KnollExtra, Spinneybeck | FilzFelt, Edelman Leather, HOLLY HUNT, DatesWeiser, Muuto, and Fully — reflect our commitment to modern design that meets the diverse requirements of high performance workplaces and luxury interiors. A recipient of the National Design Award for Corporate and Institutional Achievement from the Smithsonian`s Cooper-Hewitt, National Design Museum, Knoll, Inc. is aligned with the U.S. Green Building Council and the Canadian Green Building Council and can help organizations achieve the Leadership in Energy and Environmental Design (LEED) workplace certification. Our products can also help clients comply with the International Living Future Institute to achieve Living Building Challenge Certification, and with the International WELL Building Institute to attain WELL Building Certification. Knoll, Inc. is the founding sponsor of the World Monuments Fund Modernism at Risk program.
Senior Vice President and Chief Financial Officer
Tel 215 679-1703
David E. Bright
Senior Vice President, Communications
Tel 212 343-4135