MOUNTAIN VIEW, Calif.,
Feb. 12, 2016 /PRNewswire/
-- MobileIron Inc. (NASDAQ: MOBL), today announced that the
Compensation Committee of MobileIron's Board of Directors granted
an inducement award to Barry Mainz in connection with his
employment as MobileIron's President and Chief Executive Officer.
On January 6, 2016, MobileIron
announced the hiring of Mr. Mainz, with his employment
beginning on that same day. On February 9,
2016, the Compensation Committee granted Mr. Mainz an option
as an inducement award, granted under MobileIron's 2015 Inducement
Plan, to purchase 840,000 shares of the Company's common stock,
with a per share exercise price equal to $3.39, the closing price of the Common
Stock on the grant date. This option will vest over four years,
with 25% of the underlying shares vesting on the one year
anniversary of Mr. Mainz's start date and an additional
1/48th of the underlying shares vesting monthly
thereafter, subject to his continuous service through each vesting
date. The Compensation Committee of MobileIron's Board of
Directors granted this option on February
9, 2016 as a material inducement to Mr. Mainz's
employment in accordance with NASDAQ Listing Rule 5635(c)(4).
About MobileIron
MobileIron provides the secure foundation for companies around
the world to transform into Mobile First organizations. For more
information, please visit www.mobileiron.com.
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SOURCE MobileIron