LEXINGTON, Ky., Feb. 21, 2013 /PRNewswire/ -- Tempur-Pedic International Inc. (NYSE: TPX), a leading manufacturer, marketer and distributor of premium mattresses and pillows worldwide, provided background information with respect to filings with the Securities and Exchange Commission made this week by certain executive officers, in response to investor inquiries.
As previously disclosed, the Company's 2010 Long-Term Incentive Program had a variable component in the form of performance-based restricted stock units ("PRSUs"). Shares earned related to these PRSU awards became fully vested on February 14, 2013 and resulted in a taxable event to the individual. The Company's practice is to allow the individual the option to have the Company withhold a percentage of shares from the award to cover the estimated tax liability. Accordingly, Form 4 filings with respect to these awards were made this week by certain executive officers to disclose both the vesting of the overall award and the related withholding.
About the Company
Tempur-Pedic International Inc. (NYSE: TPX) manufactures and distributes mattresses and pillows made from its proprietary TEMPUR(R) pressure-relieving material. It is the worldwide leader in premium and specialty sleep. The Company is focused on developing, manufacturing and marketing advanced sleep surfaces that help improve the quality of life for people around the world. The Company's products are currently sold in over 80 countries under the TEMPUR(R) and Tempur-Pedic(R) brand names. World headquarters for Tempur-Pedic International is in Lexington, KY. For more information, visit http://www.tempurpedic.com or call 800-805-3635.
SOURCE Tempur-Pedic International Inc.