Business
PLBY Group CEO Ben Kohn and Other Executive Officers to Sell a Portion of Shares from RSU Settlements to Satisfy Tax Obligations
LOS ANGELES, Dec. 14, 2022 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ: PLBY) (the “Company”) announced today that Chief Executive Officer Ben Kohn and the
About this update from Playboy, Inc.
[{"type":"text","content":"LOS ANGELES, Dec. 14, 2022 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ: PLBY) (the “Company”) announced today that Chief Executive Officer Ben Kohn and the other Section 16 officers of the Company will sell in the aggregate approximately 0.6 million shares of common stock, and the sale proceeds will be applied to cover the executives’ tax withholding obligations in connection with the settlement of approximately 1.2 million vested restricted stock units (\"RSUs\") previously granted to the executives. Pursuant to the Company's current practices, withholding tax obligations arising from RSU settlements are being satisfied by the sale of shares by the recipients solely to cover the taxes related to such transactions. Following the RSU settlement and his sale to cover tax obligations, Mr. Kohn will beneficially own up to approximately 2.6 million shares, representing approximately 5.4% of the Company’s common stock outstanding. Beneficial ownership is determined according to the rules of the Securities and Exchange Commission, which generally includes options that are currently exercisable or exercisable within 60 days. Company stock issuable upon exercise of options currently exercisable or exercisable within 60 days are deemed outstanding solely for purposes of calculating the percentage of total voting power of the beneficial owner, but the actual ownership percentage would be lower in the event the holder does not exercise options that are exercisable. About PLBY Group, Inc.PLBY Group, Inc. is a global pleasure and leisure company connecting consumers with products, content, and experiences that help them lead more fulfilling lives. PLBY Group’s flagship consumer brand, Playboy, is one of the most recognizable brands in the world, driving billions of dollars annually in global consumer spending with products and content available in approximately 180 countries. PLBY Group’s mission — to create a culture where all people can pursue pleasure — builds upon almost seven decades of creating groundbreaking media and hospitality experiences and fighting for cultural progress rooted in the core values of equality, freedom of expression and the idea that pleasure is a fundamental human right. Forward-Looking StatementsThis press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Unit...