European Wax Center’s New CCO Receives Generous Equity Awards
PLANO, Texas, March 21, 2025 – European Wax Center, Inc., a leading franchisor and operator of out-of-home waxing services in the United States, recently announced significant equity awards granted to its new Chief Commercial Officer, Katie Mullen. The Board of Directors approved the following awards:
Restricted Stock Units (RSUs)
The Company granted RSUs covering 160,000 shares of European Wax Center’s Class A common stock. These RSUs will vest over a four-year period, with 40% vesting on the first anniversary of the grant date, and the remaining 60% vesting in equal monthly installments over the following 36 months.
Non-Qualified Stock Option Awards
Apart from the RSUs, European Wax Center also granted non-qualified stock option awards to purchase:
- 220,000 shares of Class A common stock, with an exercise price of $3.99, the closing price of the Company’s Class A common stock on March 21, 2025
- 180,000 shares of Class A common stock, with an exercise price of $9.00
- 180,000 shares of Class A common stock, with an exercise price of $12.00
Impact on European Wax Center:
These awards are a part of European Wax Center’s long-term incentive compensation program designed to align the interests of its executives with those of its shareholders. By granting these awards, the Company aims to attract and retain top talent, incentivize strong performance, and foster long-term value creation for its shareholders.
Impact on Individuals:
As a consumer, these awards might not have a direct impact on your day-to-day experience with European Wax Center. However, they could potentially lead to several indirect benefits, such as:
- Continued growth and expansion of European Wax Center’s services and offerings
- Improved customer experience through innovation and operational excellence
- Increased focus on sustainability and eco-friendly practices
Impact on the World:
European Wax Center’s equity awards, while significant for the Company and its executives, might not have a noticeable impact on the world at large. However, they could contribute to the following broader trends:
- The continued growth and evolution of the beauty and wellness industry
- Increased focus on diversity, equity, and inclusion in the corporate world
- The ongoing shift towards remote and flexible work arrangements for executives
Conclusion:
European Wax Center’s grants of RSUs and stock option awards to Katie Mullen represent a strategic investment in its leadership team and a commitment to long-term value creation for its shareholders. While these awards might not have a significant impact on individuals or the world in the short term, they could contribute to the continued growth and evolution of the beauty and wellness industry, as well as broader trends in diversity, equity, and inclusion in the corporate world and the future of work.
As a consumer, you can continue to enjoy European Wax Center’s high-quality waxing services and look forward to potential innovations and improvements in the future. Stay tuned for more updates from European Wax Center and the beauty and wellness industry!
