Somnigroup International Inc. announced that its Board of Directors has extended the employment contract of Chairman, Chief Executive Officer, and President Scott Thompson. His term is now extended to December 31, 2029.
Thompson, who has led the company since September 2015, was awarded 1.2 million stock options in three equal tranches with increasing strike prices. This award is tied to the company's stock performance.
Additionally, Mr. Thompson received a one-time $10 million transaction bonus in recognition of his significant involvement in the successful acquisition of Mattress Firm. This extension ensures continuity in leadership following a period of transformative growth.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.