NEW YORK--(BUSINESS WIRE)--Dec. 8, 2016--
Steel Partners Holdings L.P. (NYSE:SPLP), a diversified global
holding company, today reported, as required by the New York Stock
Exchange, that an equity inducement award has been made to William
Fejes, Jr. in connection with his previously announced appointment as
Senior Vice President of Steel Partners’ subsidiary, Handy & Harman Ltd.
(HNH) (NASDAQ:HNH), and as President and Chief Executive Officer of
HNH’s principal operating subsidiary, Handy & Harman Group. Steel
Partners owns approximately 70% of HNH.
Steel Partners granted Fejes 130,000 restricted common units. Such units
will vest in the amounts of 20,000 units in each of years one to three
and 10,000 units in years four to ten.
The inducement grant was approved and granted by the independent
compensation committee of Steel Partners’ general partner as an
inducement that is material to Fejes’ acceptance of employment. Steel
Partners is providing information regarding the inducement grant in
accordance with New York Stock Exchange Rule 303A.08.
“Bill Fejes demonstrated outstanding leadership in his prior role as CEO
of SL Industries and in his prior 18-year career with Danaher
Corporation,” said Warren Lichtenstein, Executive Chairman of Steel
Partners. “The management transition at HNH has been completed, with
Bill succeeding former CEO Jeffrey A. Svoboda, who is now serving as
Steel Partners’ Vice Chairman.”
About Steel Partners Holdings L.P.
Steel Partners Holdings L.P. is a diversified global holding company
that engages in multiple businesses through consolidated subsidiaries,
associated companies and other interests. It owns and operates
businesses and has significant interests in leading companies in various
industries, including diversified industrial products, energy, defense,
supply chain management and logistics, banking and youth sports.
About Handy & Harman Ltd.
Handy & Harman Ltd. (www.handyharman.com)
is a diversified manufacturer of engineered niche industrial
products, with leading market positions in many of the markets it
serves. Through its wholly-owned operating subsidiaries, HNH focuses on
high margin products and innovative technology and serves customers
across a wide range of end markets. HNH's diverse product offerings are
marketed throughout the United States and internationally.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161208006371/en/
Source: Steel Partners Holdings L.P.
PondelWilkinson Inc.
Roger S. Pondel, 310-279-5965
rpondel@pondel.com
