Boot Barn Holdings, Inc. Market-Based Stock Option Agreement with James Conroy under 2020 Equity Incentive Plan
This agreement between Boot Barn Holdings, Inc. and James Conroy grants him the option to purchase up to 86,189 shares of company stock at $86.96 per share, under the 2020 Equity Incentive Plan. The options vest based on the company’s stock price performance over three years, with specific price hurdles. The agreement outlines conditions for vesting, exercise, and expiration, including provisions for termination, death, disability, and change of control. Unvested options are forfeited if performance targets are not met or upon certain employment terminations.
Exhibit 10.2.4
BOOT BARN HOLDINGS, INC.
2020 EQUITY INCENTIVE PLAN
Market-based Stock Option Agreement
This Agreement dated as of May 12, 2022 between Boot Barn Holdings, Inc., a corporation organized under the laws of the State of Delaware (the “Company”), and the individual identified in Section 1 below (the “Optionee”).
Optionee:James Conroy
Number of Shares: 86,189
Exercise Price Per Share:$86.96
Grant Date:May 12 , 2022
Expiration Date:The day prior to the 10th anniversary of the Grant
Date
Percentage of this Option that Becomes Vested | Average Stock Price Hurdle |
33% | Average Stock Price of at least 150% of the Exercise Price |
33% | Average Stock Price of at least 175% of the Exercise Price |
34% | Average Stock Price of at least 200% of the Exercise Price |
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In Witness Whereof, the parties have entered into this Agreement as of the date first above written.
BOOT BARN HOLDINGS, INC.OPTIONEE:
By:/s/ Gregory V. Hackman/s/ James G. Conroy
Title:EVP, Chief Operating OfficerOptionee
[Signature Page to Option Agreement]