MENLO PARK, Calif.,
Oct. 6, 2014 /PRNewswire/
-- Facebook, Inc. (NASDAQ: FB) today announced that in
connection with the acquisition of WhatsApp and the employment of
Jan Koum as WhatsApp's Chief
Executive Officer and Brian Acton as
WhatsApp's Co-Founder and Vice President, Facebook's board of
directors, including a majority of its independent directors,
awarded employment inducement grants to Mr. Koum and Mr. Acton of
24,853,468 and 12,621,803 restricted stock units (RSUs) covering
shares of Facebook's Class A common stock, respectively, each
pursuant to a Non-Plan Restricted Stock Unit Award Agreement. The
RSUs are subject to a four-year quarterly vesting schedule, with
approximately 20% of the RSUs vesting on November 15, 2015 and, following such date, with
respect to the first eight quarterly vesting dates, 1/20th of the
RSUs shall vest on each quarterly vesting date, and with respect to
the last four quarterly vesting dates, approximately 1/10th of the
RSUs shall vest on each quarterly vesting date, subject in each
case to Mr. Koum and Mr. Acton's continued service through each
vesting date. In each case, the RSUs vest in full in the event Mr.
Koum or Mr. Acton's employment is terminated without cause or if
Mr. Koum or Mr. Acton terminate their employment for good reason.
The inducement RSUs to Mr. Koum and Mr. Acton were not approved by
Facebook's stockholders and were granted as an inducement material
to Mr. Koum and Mr. Acton's employment in accordance with NASDAQ
Listing Rule 5635(c)(4).
About Facebook
Founded in 2004, Facebook's mission is to give people the power
to share and make the world more open and connected. People use
Facebook to stay connected with friends and family, to discover
what's going on in the world, and to share and express what matters
to them.
Facebook is a trademark of Facebook, Inc.
Contacts
Investors:
Deborah Crawford
investor@fb.com / investor.fb.com
Press:
Vanessa Chan
press@fb.com / newsroom.fb.com
SOURCE Facebook