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Holley Inc. (NYSE:HLLY), currently trading near its 52-week high with a market capitalization of $434 million, announced that on Tuesday its Compensation and Talent Committee approved one-time grants of restricted stock units (RSUs) to three executive officers. According to InvestingPro data, the stock has shown remarkable strength with a 25% return in the past week alone. According to a press release statement based on a filing with the Securities and Exchange Commission, Matthew Stevenson, President and Chief Executive Officer, received 433,034 RSUs and 433,034 performance stock units (PSUs). Jesse Weaver, Chief Financial Officer, was granted 247,448 RSUs, and Carly Kennedy, Executive Vice President, General Counsel and Corporate Secretary, was awarded 123,724 RSUs.
The RSUs will vest in three equal annual installments, contingent on each officer’s continued employment through the applicable vesting dates. In the event of a change in control, all unvested RSUs will immediately vest and be exchanged for a payment or distribution based on the per-share consideration paid for Holley’s common stock.
The PSUs granted to Mr. Stevenson will vest if Holley’s stock price reaches $4.00 for twenty consecutive trading days during a defined performance period, subject to continued employment. If a change in control occurs during this period and the stock price target has been met or exceeded, all unvested PSUs will immediately vest.
On the same day, Holley entered into change in control severance agreements with Mr. Weaver and Ms. Kennedy. Under these agreements, if either officer’s employment is terminated in circumstances entitling them to continued base salary payments during a change in control period, the duration of these payments will be extended from six months to twelve months. The change in control period is defined as the three months prior to or the twelve months following a change in control.
Holley Inc. is a manufacturer of motor vehicle parts and accessories. The company’s common stock and warrants are traded on the New York Stock Exchange under the symbols HLLY and HLLY WS, respectively. All information is based on a press release statement and the company’s recent SEC filing.
In other recent news, Holley Inc reported its second-quarter 2025 earnings, with revenue reaching $166.7 million, surpassing the forecast of $163.05 million. However, the earnings per share (EPS) came in at $0.09, slightly below the expected $0.10. Despite the mixed earnings results, Holley’s performance was strong enough to prompt analysts at Canaccord Genuity to raise their price target to $6.00, maintaining a Buy rating due to the company’s better-than-expected Q2 results. Holley also achieved a 3.9% organic sales growth in the quarter, marking its second consecutive quarter of organic growth. Additionally, Telsey Advisory Group increased their price target for Holley to $3.50, maintaining an Outperform rating following the company’s adjusted EBITDA of $36.4 million, which exceeded both Telsey’s and FactSet’s forecasts. These developments reflect a positive outlook from analysts despite the slight miss in EPS expectations.
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