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In a recent SEC filing, Natural Health Trends Corp. (NASDAQ:NHTC) disclosed the approval of phantom share awards for its executives and certain employees. The Board of Directors, following the Compensation Committee’s recommendation, granted the awards under the company’s Phantom Equity Plan on Monday. The company, currently valued at $59.21 million with a stock price of $5.16, stands out for its impressive gross profit margins of 74% and notable dividend yield of 15.72%, according to InvestingPro data.
Chris T. Sharng, President of Natural Health Trends, received 124,850 phantom shares, while Timothy S. Davidson, the CFO, Senior Vice President, and Corporate Secretary, was awarded 41,788 phantom shares. Other employees and non-employee directors also received phantom share awards.
The vesting of these awards will span two years, with 12.5% potentially vesting each quarter starting from the second quarter of 2025, contingent upon continuous employment or service and additional performance conditions. The awards are capped at a maximum value of $12.00 per phantom share, and recipients cannot sell or transfer any company stock they hold until the phantom shares are vested or forfeited.
For half of the quarterly award to vest, the company must achieve a minimum operating profit of $150,000 for the quarter. The remaining half, tied to stock appreciation and a higher profit threshold of $300,000, will vest if the company’s stock price increases over the specified period and if the company exceeds the operating profit target. Unmet stock appreciation conditions can lead to carried-forward vesting opportunities within the two-year period, provided subsequent financial targets are surpassed.
The detailed terms of the Phantom Equity Plan and the awards were outlined in previous SEC filings, with the latest award agreement to be included in an upcoming quarterly report.
This announcement follows Natural Health Trends’ commitment to aligning executive compensation with company performance, as stated in the press release.
In other recent news, Natural Health Trends Corp reported flat revenue for the fourth quarter of 2024, maintaining a total of $10.8 million year-over-year. The company’s net income saw a decrease, landing at $176,000 or $0.02 per diluted share, compared to $358,000 or $0.03 in the same quarter of the previous year. Despite these results, the Greater China market showed a positive sales trend with a 7% increase. Additionally, Natural Health Trends expanded its reach by entering the Colombian market and launching new products in Hong Kong. In a significant development, the company appointed CBIZ (NYSE:CBZ) CPAs P.C. as its new independent registered public accounting firm for the fiscal year ending December 31, 2025, following the resignation of Marcum LLP. This change occurred after CBIZ acquired the attest business of Marcum LLP. There were no disagreements between Natural Health Trends and Marcum on accounting principles or practices. These recent developments reflect the company’s strategic moves in a complex market environment.
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