HOUSTON, June 2, 2020 /PRNewswire/ -- Kraton Corporation
(NYSE:KRA) (the "Company") today announced the grant on
June 1, 2020 (the "Grant Date") of
restricted stock units ("RSUs") and performance-based restricted
stock units ("PRSUs") to Mr. Mark
Santangelo under Kraton Corporation's 2019 Equity Inducement
Plan. The grants were offered as an inducement to Mr. Santangelo in
connection with his employment with the Company as its Senior Vice
President, Global Operations. The grants were approved by the
Compensation Committee of the Company's Board Directors in reliance
on the employment inducement exception to stockholder approval
provided under New York Stock Exchange Listing Rule 303A.08.
Mr. Santangelo received 9,476 RSUs, which will vest ratably over
three years and 9,476 PRSUs, which will vest on the third
anniversary of the grant date subject to the satisfaction of
certain performance conditions. Vesting for each grant is subject
to Mr. Santangelo's remaining continuously employed with the
Company through each such vesting date.
ABOUT KRATON
Kraton Corporation (NYSE: KRA) is a leading global sustainable
producer of specialty polymers and high-value biobased
products derived from pine wood pulping co-products. Kraton's
polymers are used in a wide range of applications, including
adhesives, coatings, consumer and personal care products, sealants
and lubricants, and medical, packaging, automotive, paving and
roofing applications. As the largest global provider in the pine
chemicals industry, the company's pine-based specialty products are
sold into adhesives and tire markets, and it produces and sells a
broad range of performance chemicals into markets that include fuel
additives, oilfield chemicals, coatings, roads, construction,
metalworking fluids and lubricants, inks, and mining. Kraton offers
its products to a diverse customer base in numerous countries
worldwide.
Kraton, the Kraton logo and design, are all trademarks of Kraton
Polymers LLC or its affiliates.
For Further Information:
H. Gene Shiels 281-504-4886
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SOURCE Kraton Corporation