Form 4: ONESPAWORLD Director Adam Hasiba Receives RSU Grant, Benefiting L Catterton

ONESPAWORLD Holdings Ltd. director Adam Hasiba was granted 9,385 restricted stock units, which are held for the benefit of L Catterton, L.P. under a nominee agreement.

Summary

• Adam Hasiba, a director of ONESPAWORLD HOLDINGS Ltd (OSW), was granted 9,385 restricted stock units (RSUs) on July 23, 2025.
• Each RSU represents a contingent right to receive one common share of the Issuer.
• The RSUs were granted at a price of $0.00 per share, indicating a compensation grant.
• Following this transaction, Adam Hasiba beneficially owns 51,345 common shares.
• All equity awards granted to Adam Hasiba for his service as director are held for the benefit of L Catterton, L.P., as per a Nominee and Indemnity Agreement.
• L Catterton, L.P. and L Catterton GP, LLC (together, the "L Catterton Entities") may be deemed to have shared beneficial ownership of these equity awards.
• The L Catterton Entities may also be deemed directors by deputization with respect to the Issuer for Section 16 purposes.

Sentiment

Score: 5

Explanation: The filing reports a routine RSU grant to a director, which is a neutral event in terms of company performance or outlook. It reflects standard compensation practices.

Future Outlook

The filing indicates a future vesting event for the granted restricted stock units, which will occur one year from the grant date of July 23, 2025.

Industry Context

This filing represents a routine compensation event for a director of a publicly traded company, common across various industries as a means of aligning director interests with shareholder value through equity awards.

Comparison to Industry Standards

• The grant of restricted stock units (RSUs) as director compensation is a standard practice in corporate governance across many industries, including the leisure and wellness sector where ONESPAWORLD operates.
• The vesting schedule of one year is a common period for such grants, aiming to retain directors and align their long-term interests.
• The arrangement where equity awards are held for the benefit of a private equity firm (L Catterton) that may be deemed a 'director by deputization' is typical when a significant institutional investor has board representation, reflecting their influence and beneficial ownership in the company.

Corporate Governance

Related Party Transactions

• Adam Hasiba's equity awards are held for the benefit of L Catterton, L.P. and L Catterton GP, LLC, which may be deemed to have shared beneficial ownership and potentially 'directors by deputization' with respect to the Issuer. This arrangement constitutes a related party transaction as it involves a director and an entity with significant influence over the company.

Stakeholder Impact

• Shareholders: The grant of RSUs is a form of non-cash compensation that dilutes existing shares upon vesting, but it also aligns the director's interests with long-term shareholder value. The beneficial ownership by L Catterton reinforces their influence on the company's governance.

Next Steps

• The granted restricted stock units are expected to vest one year from the grant date, around July 23, 2026.

Key Dates

Keywords

ONESPAWORLD HOLDINGS Ltd, OSW, Adam Hasiba, Restricted Stock Units, RSU grant, Director compensation, L Catterton, SEC Form 4, Insider transaction, Equity awards