Freshpet grants retention RSU awards to CEO Billy Cyr, President Scott Morris
Freshpet's compensation committee approved retention restricted stock unit (RSU) grants to CEO Billy Cyr, President and Co-Founder Scott Morris, and Chief Human Resources Officer Thembeka Machaba, effective January 3, 2025. The grants combine time-based vesting with performance-based awards tied to three-year fiscal 2025-2027 net sales and Adjusted EBITDA margin goals, and the company said the awards are intended to retain these executives.
Key points
- Grant date value: $8 million for Cyr, $4 million for Morris, and $2,043,750 for Machaba
- Time-based RSUs vest one-third on each of the first, second and third anniversaries of the January 3, 2025 grant date, subject to continued employment
- Performance-based RSUs vest based 50% on cumulative net sales and 50% on Adjusted EBITDA margin for FY 2025-2027, with 80% to 120% of target possible
- Full award agreements will be filed with the company's next Form 10-Q
The filing
Written by AI on Nov 8, 2026, 1:49 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on January 07, 2025.
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