Lazydays CEO John North officially joined the RV dealership Monday. The move provides Lazydays its first full-time CEO since William Murnane stepped down in December 2021.
Robert DeVincenzi, who served as interim CEO after Murnane’s resignation, will return to his previous role as the board of directors’ lead independent director.
North most recently served as chief financial officer (CFO) of Copart, Inc., a member of the S&P 500 and provider of online auctions and vehicle remarketing services. Previously, he served as the CFO of Avis Budget Group, Inc., a car and truck rental and on-demand car sharing firm.
Lazydays granted North a restricted stock unit award covering 105,308 shares of Lazydays common stock. At the closing stock price Friday of $16.46, the shares would be worth $1.733 million.
Lazydays said the stock award was an inducement to North joining Lazydays. The award will vest over three years, with one-third vesting annually Sept. 6, 2023; Sept. 6, 2024; and Sept. 6, 2025.
“The award was granted to Mr. North pursuant to the terms of his employment agreement and restricted stock unit award agreement,” Lazydays said, “and is subject to accelerated vesting as described in the restricted stock unit award agreement. The award was granted pursuant to a stand-alone inducement restricted stock unit award agreement. However, such award will contain terms substantially similar to the terms of the Lazydays Holdings, Inc. Amended and Restated 2018 Long Term Incentive Plan.”
