Rocket Fuel Grants Equity Awards Under Its 2016 Inducement Equity Incentive Plan
November 10 2016 - 5:59PM
Business Wire
Rocket Fuel (NASDAQ:FUEL), a leading programmatic marketing
platform provider, today announced that it granted equity awards to
its new chief financial officer on November 10, 2016, and to twelve
new employees who are not executive officers of the company on
November 8, 2016, under its 2016 Inducement Equity Incentive Plan
(the “Plan”). The Plan was originally adopted by the board of
directors of the company effective March 4, 2016 in accordance with
NASDAQ Listing Rule 5635(c)(4).
The company granted nonstatutory stock options to purchase an
aggregate of up to 101,000 shares of Rocket Fuel common stock to
twelve new employees on November 8, 2016. Each option has a 10-year
term and an exercise price of $1.86 per share, which was the
closing price of Rocket Fuel’s common stock on the grant date. Each
option will vest as to 25% of the award on the first anniversary of
its vesting start date and as to 1/48th of the award each month
thereafter, subject to continued employment through each vesting
date. The grants were approved by the compensation committee of the
company’s board of directors on November 8, 2016. As required by
NASDAQ Listing Rule 5635(c)(4), each grant was made as a material
inducement for the employee entering into an employment
relationship with the company.
The company also granted a nonstatutory stock option to purchase
up to 380,000 shares of Rocket Fuel common stock to Stephen Snyder,
who joined the company as chief financial officer on November 10,
2016. Mr. Snyder’s option has a 10-year term and an exercise price
of $1.82 per share, which was the closing price of Rocket Fuel’s
common stock on the grant date. Mr. Snyder’s option will vest as to
25% of the award on the first anniversary of Mr. Snyder’s start
date and as to 1/48th of the award each month thereafter, subject
to his continued employment through each vesting date. The grant
was approved by the compensation committee of the company’s board
of directors effective November 10, 2016. As required by NASDAQ
Listing Rule 5635(c)(4), each grant was made as a material
inducement for Mr. Snyder entering into an employment relationship
with the company.
About Rocket Fuel
A leading programmatic marketing platform provider, Rocket Fuel
Inc. (NASDAQ:FUEL) offers brands, agencies, and platform partners
managed services, as well as a SaaS-based Data Management Platform
(DMP) and Demand Side Platform (DSP), to optimize performance,
awareness, and lift across marketing objectives, channels and
devices. By applying artificial intelligence at big data scale,
Rocket Fuel's Moment Scoring™ technology performs a real-time
calculation of each ad opportunity based on a marketer's goal to
determine the likelihood a consumer will engage in a desired
action. Moment Scoring technology is designed to go beyond 1:1
marketing by learning to predict what marketing actions to take
with a campaign at a precise moment in time, which results in a
much more efficient use of marketing dollars. Headquartered in
Redwood City, California, Rocket Fuel has over 20 offices
worldwide.
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version on businesswire.com: http://www.businesswire.com/news/home/20161110006665/en/
Media Contact:Bite Communications for Rocket FuelBethany
Mullinix, 415-817-9990Rocket_fuel@biteglobal.comorInvestor
Relations:Rocket FuelJane Underwood,
650-517-2045ir@rocketfuel.com
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