Latest news with #ThomasSnyder
Business Wire
27-06-2025
- Business
- Business Wire
Stock Option Award and Restricted Stock Unit Award Granted as Inducement to Thomas Snyder, New President and Chief Executive Officer of TriMas
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--TriMas (NASDAQ: TRS) today announced that, as previously disclosed in a Current Report on Form 8-K filed on June 9, 2025 with the Securities and Exchange Commission, the Company has made an inducement grant to Thomas Snyder, the newly-appointed President and Chief Executive Officer of TriMas. As approved by the Company's Board of Directors and Compensation Committee pursuant to Rule 5635(c)(4) of the Nasdaq Stock Market Listing Rules, the inducement grant was made on June 24, 2025, and consists of: (1) a time-based, premium-priced and non-qualified stock option award to purchase 900,000 shares of the Company's common stock; and (2) a time-based restricted stock unit award consisting of 152,439 restricted stock units. The stock options and restricted stock units were granted outside of the terms and conditions of the TriMas Corporation 2023 Equity and Incentive Compensation Plan as an inducement to Mr. Snyder's acceptance of employment with the Company. Each of the inducement grants is generally subject to continued employment and the terms of the respective award agreement for such grant. The stock option grant consists of five tranches, with the first tranche covering 100,000 shares, and each of the remaining tranches covering 200,000 shares. The five tranches have premium exercise prices of $30, $35, $40, $45 and $50 per share, respectively, and each tranche will generally vest ratably over a five-year period from the date of grant. The stock option grant will generally have a 10-year term from the date of grant, and will be subject to pro-rata vesting (equivalent to another portion of each tranche) for Mr. Snyder's termination due to death or disability or Mr. Snyder's involuntary termination without cause or for good reason, as well as double-trigger vesting in the event of a change in control of the Company (or anticipatory termination within 90 days prior to such a change in control). The restricted stock units will generally vest ratably over a three-year period from the date of grant, subject generally to accelerated vesting for termination due to death or disability or involuntary termination without cause or for good reason, as well as double-trigger vesting in the event of a change in control of the Company. About TriMas TriMas manufactures a diverse set of products primarily for the consumer products, aerospace and industrial markets through its TriMas Packaging, TriMas Aerospace and Specialty Products groups. Our approximately 3,900 dedicated employees in 13 countries provide customers with a wide range of innovative and quality product solutions through our market-leading businesses. Our TriMas family of businesses has strong brand names in the markets served, and operates under a common set of values and strategic priorities under the TriMas Business Model. TriMas is publicly traded on the NASDAQ under the ticker symbol 'TRS,' and is headquartered in Bloomfield Hills, Michigan. For more information, please visit Notice Regarding Forward-Looking Statements Any "forward-looking" statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, contained herein, including those relating to TriMas' business, financial condition or future results, involve risks and uncertainties with respect to, including, but not limited to: general economic and currency conditions; competitive factors; market demand; our ability to realize our business strategies; our ability to identify attractive acquisition candidates, successfully integrate acquired operations or realize the intended benefits of such acquisitions; pressures on our supply chain, including availability of raw materials and inflationary pressures on raw material and energy costs, and customers; the performance of our subcontractors and suppliers; risks and uncertainties associated with intangible assets, including goodwill or other intangible asset impairment charges; risks associated with a concentrated customer base; information technology and other cyber-related risks; risks related to our international operations, including, but not limited to, risks relating to tensions between the United States and China; government and regulatory actions, including, without limitation, climate change legislation and other environmental regulations, as well as the impact of tariffs, quotas and surcharges; changes to fiscal and tax policies; intellectual property factors; uncertainties associated with our ability to meet customers' and suppliers' sustainability goals and achieve our sustainability goals in alignment with our own announced targets; litigation; contingent liabilities relating to acquisition activities; interest rate volatility; our leverage; liabilities imposed by our debt instruments; labor disputes and shortages; the disruption of operations from catastrophic or extraordinary events, including, but not limited to, natural disasters, geopolitical conflicts and public health crises, the amount and timing of future dividends and/or share repurchases, which remain subject to Board approval and depend on market and other conditions; our future prospects; and other risks that are detailed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024. The risks described are not the only risks facing our Company. Additional risks and uncertainties not currently known to us or that we currently deemed to be immaterial also may materially adversely affect our business, financial position and results of operations or cash flows. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements, except as required by law.
Yahoo
27-06-2025
- Business
- Yahoo
Stock Option Award and Restricted Stock Unit Award Granted as Inducement to Thomas Snyder, New President and Chief Executive Officer of TriMas
BLOOMFIELD HILLS, Mich., June 27, 2025--(BUSINESS WIRE)--TriMas (NASDAQ: TRS) today announced that, as previously disclosed in a Current Report on Form 8-K filed on June 9, 2025 with the Securities and Exchange Commission, the Company has made an inducement grant to Thomas Snyder, the newly-appointed President and Chief Executive Officer of TriMas. As approved by the Company's Board of Directors and Compensation Committee pursuant to Rule 5635(c)(4) of the Nasdaq Stock Market Listing Rules, the inducement grant was made on June 24, 2025, and consists of: (1) a time-based, premium-priced and non-qualified stock option award to purchase 900,000 shares of the Company's common stock; and (2) a time-based restricted stock unit award consisting of 152,439 restricted stock units. The stock options and restricted stock units were granted outside of the terms and conditions of the TriMas Corporation 2023 Equity and Incentive Compensation Plan as an inducement to Mr. Snyder's acceptance of employment with the Company. Each of the inducement grants is generally subject to continued employment and the terms of the respective award agreement for such grant. The stock option grant consists of five tranches, with the first tranche covering 100,000 shares, and each of the remaining tranches covering 200,000 shares. The five tranches have premium exercise prices of $30, $35, $40, $45 and $50 per share, respectively, and each tranche will generally vest ratably over a five-year period from the date of grant. The stock option grant will generally have a 10-year term from the date of grant, and will be subject to pro-rata vesting (equivalent to another portion of each tranche) for Mr. Snyder's termination due to death or disability or Mr. Snyder's involuntary termination without cause or for good reason, as well as double-trigger vesting in the event of a change in control of the Company (or anticipatory termination within 90 days prior to such a change in control). The restricted stock units will generally vest ratably over a three-year period from the date of grant, subject generally to accelerated vesting for termination due to death or disability or involuntary termination without cause or for good reason, as well as double-trigger vesting in the event of a change in control of the Company. About TriMas TriMas manufactures a diverse set of products primarily for the consumer products, aerospace and industrial markets through its TriMas Packaging, TriMas Aerospace and Specialty Products groups. Our approximately 3,900 dedicated employees in 13 countries provide customers with a wide range of innovative and quality product solutions through our market-leading businesses. Our TriMas family of businesses has strong brand names in the markets served, and operates under a common set of values and strategic priorities under the TriMas Business Model. TriMas is publicly traded on the NASDAQ under the ticker symbol "TRS," and is headquartered in Bloomfield Hills, Michigan. For more information, please visit Notice Regarding Forward-Looking Statements Any "forward-looking" statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, contained herein, including those relating to TriMas' business, financial condition or future results, involve risks and uncertainties with respect to, including, but not limited to: general economic and currency conditions; competitive factors; market demand; our ability to realize our business strategies; our ability to identify attractive acquisition candidates, successfully integrate acquired operations or realize the intended benefits of such acquisitions; pressures on our supply chain, including availability of raw materials and inflationary pressures on raw material and energy costs, and customers; the performance of our subcontractors and suppliers; risks and uncertainties associated with intangible assets, including goodwill or other intangible asset impairment charges; risks associated with a concentrated customer base; information technology and other cyber-related risks; risks related to our international operations, including, but not limited to, risks relating to tensions between the United States and China; government and regulatory actions, including, without limitation, climate change legislation and other environmental regulations, as well as the impact of tariffs, quotas and surcharges; changes to fiscal and tax policies; intellectual property factors; uncertainties associated with our ability to meet customers' and suppliers' sustainability goals and achieve our sustainability goals in alignment with our own announced targets; litigation; contingent liabilities relating to acquisition activities; interest rate volatility; our leverage; liabilities imposed by our debt instruments; labor disputes and shortages; the disruption of operations from catastrophic or extraordinary events, including, but not limited to, natural disasters, geopolitical conflicts and public health crises, the amount and timing of future dividends and/or share repurchases, which remain subject to Board approval and depend on market and other conditions; our future prospects; and other risks that are detailed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024. The risks described are not the only risks facing our Company. Additional risks and uncertainties not currently known to us or that we currently deemed to be immaterial also may materially adversely affect our business, financial position and results of operations or cash flows. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements, except as required by law. View source version on Contacts Sherry LauderbackVP, Investor Relations, Communications & Sustainability(248) Sign in to access your portfolio
Entrepreneur
20-05-2025
- Business
- Entrepreneur
How He Started a Business With Over $1 Billion in Sales
Steve Magami grew up in a "wellness-oriented" family, and early on, he experienced the frustration shared by fruit consumers across the U.S.: the pervasive game of "berry roulette," where there's no guarantee that the carton of berries pulled from a grocery store shelf will actually taste good. Image Credit: Courtesy of Fruitist. Steve Magami. The issue often stems from a scattered supply chain, wherein the product cycles through disparate growers, packers, distributors and retailers before it reaches the consumer. "The produce space went in the direction of commodity agriculture, which is an extreme focus on cost and yield to bring cost per kilo down," Magami tells Entrepreneur. Magami wanted to start a berry business with a vertical supply chain that would raise the bar for product quality. He and his co-founder, Thomas Snyder, founded Agrovision, a Los Angeles-based agriculture company specializing in berries, in 2012, and introduced its berry brand Fruitist in 2020. Related: A Cambodian Refugee Paralyzed By Polio Says 'Not Much' Was Expected of Him. He and His Wife Built a Multimillion-Dollar Business That Beat All Odds. The brand has been making its mark on the massive global berry market ever since. Fruitist's flagship product is its jumbo blueberries, but the company also sells blackberries, raspberries and cherries. Today, Fruitist's sales generate over $400 million a year, and the brand just surpassed $1 billion in lifetime sales. The parent company officially changed its name to Fruitist on April 16. "We knew we needed a name that reflected our mission, identity and where we were going," Magami says. Image Credit: Courtesy of Fruitist "I saw an opportunity to use these microclimates with a new model to solve that 'berry roulette.'" Magami was working in private equity, looking at microclimates for large-scale biofuel development and deployment, when inspiration for Fruitist struck. "I saw an opportunity to use these microclimates with a new model to solve that 'berry roulette,'" Magami says. "I saw an opportunity to truly inspire healthy and enjoyable snacking." The berry industry might not be widely recognized for its potential for disruption, but as Magami and Snyder built their brand "brick by brick," they managed to attract notable investors, including the family office of Ray Dalio, the billionaire founder of Bridgewater Associates. Related: 4 Strategies for Creating a Compelling Business Plan That Actually Attracts Investors — and Secures Funding "It's so unique because we're disrupting this sleepy industry, the fruit aisle," Magami explains. "This is a high-impact play. There's a lot of sustainability around this, and it gives you the ability to play outside of tech but in a high-growth, disruptive way." Fruitist has raised a total of $693 million between equity and debt, per the company. These days, Fruitist has to turn interested investors away, Magami says. "They're making more money per square inch of the shelf. There's virtually no shrink with us." Fruitist relies on technology and data analytics to achieve its consistent product quality. The company has invested more than $600 million since its founding to build precise, high-tech production operations in seven countries in addition to the U.S.: Peru, Mexico, Chile, Morocco, Egypt, China and India. The plan was always to start with a differentiated product and secure buy-in from retailers, which would then get consumers on board in just "a matter of time," Magami says. Customer demand across the more than 12,500 U.S. retail stores where Fruitist is available, including Costco and Whole Foods, proves that assessment out. "Our retailers are making more money with us," Magami says. "We're driving foot traffic, [and] they're making more money per square inch of the shelf. There's virtually no shrink with us." Related: 5 Business Truths I Wish Someone Had Told Me Before I Built a Startup Fruitist's commitment to product quality has also helped Fruitist position its berries for U.S. snacking culture. "Obviously, the trend is towards healthier, nutritious, convenient, grab-and-go," Magami says. "Blueberries are already so healthy, but to have blueberries that are so good and so consistent is a massive unlock. Because now you're hitting everything that you could want in a snack." Image Credit: Courtesy of Fruitist "The dollars will come. Don't cut corners prioritizing cost over consumer experience." Magami is determined to build Fruitist into a generational business — not one that "stops growing after five years" — and to continue amplifying its brand messaging. Magami is especially excited to continue that work through the world of sports. Fruitist became the official snack partner of D.C. United, announcing a multi-year partnership in February 2024, and partnered with the University of Southern California's (USC) Trojans last October. What's more, Fruitist is particularly keen on capturing the attention of younger generations. Magami is encouraged by the positive response from his children and their friends to Fruitist's berries and strives to get the product into the hands of other young snackers. The brand's forthcoming snack cups, which will retail for about $3, are another step toward increased accessibility, Magami says. Related: How to Master the Art of Brand Messaging With Clear and Consistent Communication Despite the company's impressive track record to date, Magami believes that Fruitist has "only scratched the surface" of what's possible — and notes that other founders considering the produce space should embrace the chance to fill gaps in quality. "There's so much opportunity across the produce aisle, in our view, from what we've seen outside of our products that we're focused on, which is berries and cherries," Magami says. "I would encourage entrepreneurs to focus on controlling the quality consistently and delivering an experience on the shelf, and the dollars will come. Don't cut corners prioritizing cost over consumer experience."
Yahoo
10-05-2025
- Yahoo
Man accused of spraying bodily fluids on women in Walmart; bond increased to $250K
Graphic warning: Some details in this story may be disturbing to some readers. A Gastonia man is behind bars after being accused of assaulting women inside a Walmart. Channel 9's Glenn Counts spoke with one victim who said Thomas Snyder sprayed his bodily fluids on her. Snyder appeared in court Friday afternoon after his charges were upgraded to aggravated assault. 'I don't know what kind of sick, twisted stuff that is. It makes me feel unsafe,' the victim said. ALSO READ: 'Flammable liquid' splashed on students during fight at Charlotte high school, CMS says She was one of three, according to police. Her incident took place in February, while the others occurred in March and May. 'It has kind of left a mental scar on me,' she said. According to prosecutors, all of the women were assaulted inside the Walmart on North Myrtle School Road, with each of them being sprayed with semen from a syringe. 'I was getting some tortilla chips, and all of a sudden, you feel something kind of wet on your back. And you're like, 'What in the world is going on?' And then all of a sudden this crazy guy with a syringe is just squirting stuff out, and you don't know what kind of liquid it is,' the woman explained. Prosecutor Josh Warner said Snyder was also recording the incidents. 'They discovered multiple videos of that conduct had been recorded with multiple different victims and may have been disseminated to multiple different people using messaging apps on the defendant's phone,' said Warner. Snyder has been charged with disseminating obscenity. And while he didn't say much in court, he did defend himself against that charge. 'I know it doesn't make any difference now, but I do want the court to know that those videos never went to anybody else,' said Snyder. ' The Gastonia Police Department is crediting their quick actions that resulted in Snyder's arrest last Friday. 'No one should have to endure such an invasive and traumatic experience while simply going about his or her daily life shopping in a store,' the department said in a statement. The victim told Channel 9 that the experience has left her worried about her health. 'Oh yeah, I told them I wanted to be further tested to make sure he didn't have any type of disease because I come home and I'm around my kids,' the victim said. Prosecutors said they believe investigators will find more victims once they finish looking through Snyder's phone. Snyder's bond was originally $100,000, but the judge has since raised it to $250,000. VIDEO: 'Flammable liquid' splashed on students during fight at Charlotte high school, CMS says
