Nature's Sunshine Products Inc.
03/12/2024 | Press release | Distributed by Public on 03/12/2024 04:01
Management Change/Compensation - Form 8-K
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Compensatory Arrangements of Certain Officers
On March 6, 2024, the Board of Directors of Nature's Sunshine Products, Inc. (the "Company") approved an increase to the base salary of the Company's Chief Executive Officer, Mr. Terrence O. Moorehead, from $800,000 to $832,000, which increase is effective March 11, 2024. The Board of Directors also increased Mr. Moorehead's target percentage for purposes of his annual cash incentive from 100% of his base salary to 105% of his base salary.
On March 5, 2024, the Compensation Committee of the Company approved an increase to the base salary of the Company's Chief Financial Officer, Mr. L. Shane Jones, from $430,000 to $460,000 which increase is effective March 11, 2024. The Compensation Committee also increased Mr. Jones's target percentage for purposes of his annual cash incentive from 60% of his base salary to 70% of his base salary.
On March 5, 2024, the Compensation Committee of the Company approved an increase to the base salary of the Company's Executive Vice President, Global Supply Chain, Mr. Martin Gonzalez, from $375,000 to $390,000, which increase is effective March 11, 2024.