Traeger CEO Receives Updated Compensation Plan, No Longer $0

Today it was revealed that Traeger CEO, Jeremy Andrus, received an updated compensation plan. He originally had a plan dating back to 2021 where he didn’t receive a salary or a bonus. Instead, he was being compensated in equity awards tied to share value appreciation.

In addition, under the Side Letter, Mr. Andrus agreed (i) to reduce his annual base salary to $0 until December 31, 2026 and (ii) to not be eligible to receive an annual bonus with respect to 2021 or for any period prior to December 31, 2026. The Board believes that the lack of cash compensation, coupled with equity awards’ design (of vesting upon the achievement of significant stock price appreciation goals), ensures that Mr. Andrus’s compensation over the next several years is directly and solely tied to the Company’s achievement of superior performance.