Recreation USA Announces Employee Stock Option Program
24 October 2000
Recreation USA Announces Employee Stock Option ProgramFT. LAUDERDALE, Fla., Oct. 24 Holiday RV Superstores, Inc. , operating under the tradename Recreation USA, has announced plans to initiate an incentive stock option plan for its more than 400 employees. The Ft. Lauderdale, Fla. national retailer of recreational vehicles and marine products anticipates awarding a total approximately 500,000 stock options during the first phase of the incentive program. All employees with more than one year of service will eligible to receive options. The Company received authorization for the plan from shareholders in January 2000, and has reserved 3 million shares of common stock for the incentive stock options. Recreation USA will base the number of options employees receive on their responsibilities and roles within the Company. The grant date is Oct. 31, 2000. Employees of dealerships acquired by Recreation USA will also be eligible to participate in the incentive stock program. "We strongly believe in the value of ownership and feel that it is crucial for all our employees to realize they hold a significant stake in the future of Recreation USA," said Ronald G. Huneycutt, president and chief executive officer. "This incentive stock option program better aligns the priorities of our employees with those of our shareholders while demonstrating that employees who work hard to produce superior results will be rewarded for their labor. "Creating an entire corporation of employee-owners is another significant step toward creating the world-class Company we need to power our nationwide brand." With the additions of Emerald Coast and Village RV, Recreation USA will operate 19 dealerships in Alabama, California, Florida, Kentucky, New Mexico, South Carolina, Virginia and West Virginia. Recreation USA, the nation's only publicly traded national retailer, sells, services and finances more than 60 RV and 10 boat brands. The Company also markets its offerings through its Internet site at http://www.RecUSA.com . The statements contained in this news release include certain predictions and projections that may be considered forward-looking statements under security laws. These statements involve a number of risks and uncertainties including, but not limited to, the performance of the recreational vehicle or boat industries, certain customers or affiliated companies, other economic, competitive, governmental and technological factors affecting the Company's operations, markets, products, services and prices, that could cause results to differ materially.