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Today, PLBY Group, Inc. (NASDAQ:PLBY), a company currently valued at $148.43 million, revealed new retention agreements for its key executives, according to a filing with the U.S. Securities and Exchange Commission. The agreements, effective June 4, 2025, involve Chief Executive Officer Ben Kohn, Chief Financial Officer Marc Crossman, and General Counsel Chris Riley. According to InvestingPro analysis, the company currently operates with a significant debt burden and trades below its Fair Value.
The retention agreements are designed to recognize the contributions of these executives and encourage their continued employment with the company. As part of the agreements, the executives were granted restricted stock units (RSUs) under the company’s 2021 Equity and Incentive Compensation Plan. Specifically, Kohn received RSUs for 1,000,000 shares, while Crossman and Riley each received RSUs for 350,000 shares. These RSUs, granted on May 2, 2025, are set to vest on April 30, 2026. The stock has shown strong momentum, with a 74.67% return over the past year, though InvestingPro data indicates the stock generally trades with high price volatility.
Additionally, the agreements outline plans for further RSU grants in 2026, subject to approval by the company’s Compensation Committee. The proposed grants would include the same number of shares as the 2025 grants and are scheduled to vest on April 30, 2027. Under specific conditions, these intended 2026 RSU grants could be converted into cash payments for the executives, should they not be issued.
The agreements stipulate that the executives will not be eligible for the 2026 RSU grants or any related cash payments if they resign or are terminated for cause before the grants are issued.
This announcement is based on a press release statement and highlights PLBY Group’s strategy to retain its leadership team amidst its ongoing business operations. The company’s common stock is traded on the Nasdaq Global Market under the ticker symbol PLBY.
In other recent news, PLBY Group reported its first positive EBITDA since 2023, achieving $2.4 million in the first quarter of 2025. This financial milestone was largely driven by a 175% increase in licensing revenue, with total revenue reaching $28.9 million, surpassing the forecast of $27 million. Earnings per share (EPS) matched expectations at -$0.10. Additionally, PLBY Group is set to join the Russell Microcap® Index starting June 30, 2025, which will enhance its visibility among investors. The company’s strategic shift to an asset-light business model has been underscored by significant growth in high-margin licensing deals.
Furthermore, PLBY Group is exploring new revenue streams in gaming, hospitality, and content licensing, indicating potential growth opportunities for 2026 and beyond. The company is also considering initiatives such as paid voting campaigns and magazine sales to bolster its financial performance. Analysts from ROTH Capital Partners (WA:CPAP) discussed these developments during the earnings call, highlighting PLBY Group’s focus on strategic partnerships and market expansion. These recent developments reflect the company’s efforts to strengthen its financial position and diversify its revenue streams.
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