Item 5.02 Departure of Directors or Certain officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On March 19, 2020, the Board of Directors (the "Board") of Nautilus, Inc. (the
"Company") increased the size of the Board from six to seven directors and
appointed Patricia "Patty" M. Ross as a director and as a member of the
Compensation Committee of the Board (the "Compensation Committee") and the Audit
Committee of the Board (the "Audit Committee").
Ms. Ross will serve until the Company's 2020 annual meeting of shareholders (the
"Annual Meeting") and until Ms. Ross' successor shall have been duly elected and
qualified, or until Ms. Ross' earlier death, resignation, disqualification or
removal. There is no arrangement or understanding between Ms. Ross and the
Company or any other person pursuant to which she was selected as a director.
Ms. Ross is not a party to and does not have any direct or indirect material
interest in any transaction with the Company required to be disclosed under Item
404(a) of Regulation S-K. In connection with her appointment, Ms. Ross entered
into the Company's standard form of indemnification agreement.
As compensation for her service, and in accordance with the Company's
non-employee director compensation policy, Ms. Ross will receive an annual
retainer of $42,500, payment of $1,500 for attendance at each Board meeting and,
following the Annual Meeting, is expected to receive a grant of restricted stock
units. Additionally, in connection with her appointment to the Compensation
Committee and Audit Committee, Ms. Ross will receive an additional payment of
$1,500 for her attendance at each committee meeting.
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