Item 5.02.
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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On September 6, 2024, in recognition of their significant contributions and extraordinary leadership of Vista Outdoor Inc. (the "Company") during the Company's exploration of alternatives for separating the Revelyst and The Kinetic Group segments of the Company and other strategic alternatives, including to shareholder value creation, creation of stand-alone management teams, organizational continuity and collaboration and alignment with other key leaders across the Company, the Board of Directors of the Company approved transaction incentive awards in the amount of $1,200,000 to each of Jason Vanderbrink and Eric Nyman. The awards are payable on completion of a strategic alternative, subject to the executive's continued employment through such date. If the executive is terminated without cause prior to the payment date, any unpaid amount will become payable within 30 days following such termination.
The foregoing description of the transaction incentive awards does not purport to be complete and is qualified in its entirety by reference to the Form of CEO Transaction Incentive Award Agreement filed as Exhibit 10.1 hereto and incorporated by reference herein.