SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report: October 13, 2020
(Date of earliest event reported)
(Exact name of registrant as specified in its charter)
|(State or other jurisdiction of|
|(Commission File Number)||(I.R.S. Employer|
17750 S.E. 6th Way
Vancouver, Washington 98683
(Address of principal executive offices, including zip code)
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
|☐||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
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|☐||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
Securities registered pursuant to Section 12(b) of the Act:
|Title of each class||Trading Symbol(s)||Name of each exchange on which registered|
| Common Stock, no par value|| NLS||New York Stock Exchange|
|Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).|
|Emerging growth company||☐|
|If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.|
|Item 5.02|| |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
In a meeting on October 13, 2020, the Board of Directors of Nautilus, Inc. (the “Company”) approved, upon recommendation of the Compensation Committee of the Board of Directors, an increase in the annual base salary of Aina Konold, the Company’s Chief Financial Officer to $385,000 and an increase in the annual base salary of Christopher Quatrochi, the Company’s Senior Vice President, Innovation to $325,000.
On October 13, 2020, the Board of Directors of the Company also promoted Becky Alseth from Vice President, Marketing and Direct to Chief Marketing Officer. In connection with her promotion, Ms. Alseth will receive an annual base salary of $325,000 and was granted 10,000 restricted stock units (“RSUs”) under the Company’s Amended 2015 Long Term Incentive Plan. The RSUs will vest in three equal annual installments on the first three anniversaries of the date of grant, subject to Ms. Alseth’s continued service until each vesting date. The information regarding Ms. Alseth required by Items 401(b), (d), (e) and Item 404(a) of Regulation S-K has previously been disclosed by the Company in the Company's Definitive Proxy Statement on Schedule 14A filed with the U.S. Securities and Exchange Commission on April 21, 2020, and is incorporated herein by reference.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|October 16, 2020||By:||/s/ Wayne M. Bolio|
|Date||Wayne M. Bolio|
|Senior Vice President, Law and Human Resources, General Counsel|