DELRAY BEACH, Fla., Sept. 27, 2024 (GLOBE NEWSWIRE) -- PetMed Express, Inc., dba PetMeds and parent company of PetCareRx, (Nasdaq: PETS), today announced that on September 27, 2024, PetMeds granted two equity awards previously approved by its Board of Directors to two newly hired executives as a material inducement to employment.
PetMeds granted Doug Krulik, Chief Accounting Officer, 40,000 time-based restricted stock units ("RSUs") and granted Robyn D'Elia, Chief Financial Officer, 250,000 time-based RSUs. The RSUs will vest over three years in equal one-third increments on each of the first three (3) anniversaries of the grant date, subject to continued employment with the Company on each vesting date.
These awards were granted outside of PetMeds' stockholder-approved equity incentive plans pursuant to PetMeds' 2024 Inducement Incentive Plan, which was adopted by the Board of Directors in September 2024. These awards were authorized by the Compensation and Human Capital Committee of the Board of Directors, which is comprised solely of independent directors, and the Board of Directors, as a material inducement for Mr. Krulik and Ms. D'Elia entering into employment with PetMeds in accordance with Nasdaq Listing Rule 5635(c)(4).
About PetMed Express, Inc.
Founded in 1996, PetMeds is a leader in the digital pet pharmacy industry. As a national online retailer, PetMeds.com and PetCareRx.com are top choices for delivering preventive and chronic symptom prescriptions and OTC medications and products through their thousands of veterinary partners and a loyal customer base. Leveraging telehealth and insurance partnerships, they offer unparalleled value and convenience to pet parents at every stage of their pets' lives, whether dogs, cats, or horses. PetMeds and PetCareRx provide a comprehensive range of medications, food products, and essential supplies through their websites, www.PetMeds.com and www.PetCareRx.com.
Investor Contact:
ICR, LLC
John Mills
(646) 277-1254
Reed Anderson
(646) 277-1260
investor@petmeds.com
