Company: CELH
Filing Date: 2025-03-03
Form Type: 8-K
Source: 0001341766-25-000022
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Company: Celsius Holdings, Inc.
Filing Date: 2025-03-03
Form: 8-K
Item: Item 5.02
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 3, 2025, the Board of Directors of Celsius Holdings, Inc., a Nevada corporation (the “ Company”), appointed Mr. Eric Hanson to serve as the Company’s President and Chief Operating Officer with such appointment becoming effective on March 24, 2025. Mr. John Fieldly, the Company’s Chief Executive Officer, President and Chairman of the Board, is and will remain the Company’s Chief Executive Officer (principal executive officer) and Chairman of the Board, but Mr. Hanson will assume Mr. Fieldly’s current position as President as of March 24, 2025.

Mr. Hanson, 53 years old, has nearly 30 years of experience across sales, general management, commercial planning, and partnership management in the food and beverage industry. Mr. Hanson has been employed with PepsiCo, Inc. since 1997 including as Senior Vice President, Strategic Partnerships, from August 2022 to present, Senior Vice President, Energy Drinks, from April 2020 to August 2022, and Senior Vice President, Commercial Planning & Sales Transformation from February 2019 to April 2020. Prior to April 2020, Mr. Hanson served in roles of increasing responsibility in the areas of revenue growth management and sales and general management across Pepsi Beverages.

In connection with Mr. Hanson’s appointment as President and Chief Operating Officer, the Company has agreed, pursuant to an offer letter entered into between the Company and Mr. Hanson, to pay Mr. Hanson an annual base salary of $700,000. Additionally, Mr. Hanson is eligible to participate in the Company’s annual bonus plan and the Company’s long term incentive plan pursuant to which he is eligible to receive an aggregate of $1,150,000 of restricted stock units and performance stock units (such amount allocated equally between such awards) with the former vesting ratably on an annual basis over a three-year period, and the latter vesting at the end of a three-year period, subject to the satisfaction of certain revenue and total shareholder return targets. Mr. Hanson will also receive a one-time award in connection with his commencement of employment of $1,200,000 of restricted stock units vesting ratably on an annual basis over a three-year period. Mr. Hanson is additionally entitled to a $3,000 monthly housing allowance, subject to annual review