Apogee Enterprises reports grant of inducement award

Headquartered in Minneapolis, MN, Apogee Enterprises is a leader in architectural products and services, providing architectural glass, aluminum framing systems and installation services for buildings, as well as value-added glass and acrylic for custom picture framing and displays

Apogee Enterprises, Inc. announced that as an inducement for Ty R. Silberhorn, who joined the company January 4, 2021 (the “Commencement Date”) as Chief Executive Officer and President, to enter into employment with the company, the compensation committee of the Board of Directors approved an equity grant effective as of the Commencement Date.

The equity grant consists of 45,662 shares of time-based restricted common stock of the company valued at 1,400,000, USD which will vest in two increments over a five-year period, in accordance with the terms of a restricted stock agreement entered into on the Commencement Date, with the first increment of 16,308 shares vesting after two years, and the second increment of 29,354 shares vesting after five years.