JACKSONVILLE, Fla.--(BUSINESS WIRE)-- Rayonier Advanced Materials Inc. (NYSE: RYAM) announced today that it granted an award of Leveraged Performance Units (“LPUs”) with a target value of $1,500,000 to its recently appointed Chief Executive Officer Vito J. Consiglio, pursuant to its letter agreement with Mr. Consiglio, dated December 5, 2021.

The actual number of LPUs earned will be based on share price growth from the average of the closing market price of Company common stock during the 20 trading days preceding the grant date and during the 20 trading days following the grant date (the “grant date share price”) compared to the “measurement date share price” determined based on the average of the closing market price of RYAM common stock during the last 20 trading days of the three-year measurement period. The following table sets forth the payout range of these LPUs, with results to be interpolated:

Any result lower than 10% stock price growth will result in no payout. Earned LPUs will be settled in Company common stock and will be subject to a one-year holding requirement post-vesting as well as a value cap of 15x of the initial grant value. In the event of Mr. Consiglio’s voluntary resignation or termination for cause prior to the payout of earned LPUs, the LPUs will be forfeited.

The LPU award was granted in reliance on the employment inducement exemption under the NYSE’s Listed Company Manual Rule 303A.08, which requires public announcement of inducement awards. Pursuant to the requirements of that rule, RYAM is issuing this press release.

About Rayonier Advanced Materials

Rayonier Advanced Materials is a global leader of cellulose-based technologies, including high purity cellulose specialties, a natural polymer commonly found in filters, food, pharmaceuticals and other industrial applications. The Company also manufactures products for paper and packaging markets. With manufacturing operations in the U.S., Canada and France, Rayonier Advanced Materials employs just over 2,500 people and generates approximately $1.4 billion of revenues. More information is available at www.rayonieram.com.

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Source: Rayonier Advanced Materials