Jamba, Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
December 08 2016 - 4:05PM
Business Wire
Jamba, Inc. (NASDAQ:JMBA) (“Jamba”
or the “Company”) today announced that
it granted nonqualified stock options to two new employees who are
not executive officers of the Company to purchase an aggregate of
up to 10,000 shares of the Company's common stock at an exercise
price per share of $10.10, equal to the closing price of the
Company’s common stock on the date of each grant, in each case
vesting annually over four years so long as each employee remains
an employee of Jamba Juice Company and/or its affiliates.
The grants were made as an inducement that was a material
component of each person’s compensation and subsequent acceptance
of employment with the Company and was granted as an employment
inducement award pursuant to NASDAQ Listing Rule 5635(c)(4)
approved by the Compensation and Executive Development Committee of
the Company’s board of directors.
About Jamba, Inc.
Jamba, Inc., owns and franchises Jamba Juice® stores through its
wholly-owned subsidiary, Jamba Juice Company. Jamba Juice Company
is a leading restaurant retailer of better-for-you, specialty
beverage and food offerings, which include great tasting, whole
fruit smoothies, fresh-squeezed juices and juice blends, and a
variety of food items including, hot oatmeal, breakfast wraps,
sandwiches, Artisan Flatbreads™, Energy Bowls™, baked goods and
snacks. As of September 27, 2016, there were 896 store locations
globally. There were 69 Company-owned and operated stores and 759
Franchise-operated stores in the United States, and 68
Franchise-operated international stores. Jamba Juice Company
continues to expand the Jamba® brand by direct selling of consumer
packaged goods (“CPG”) and licensing
its trademarks. CPG products for at-home enjoyment are also
available online, through select retailers across the nation and in
Jamba® outlets in the United States.
Fans of Jamba Juice® can find out more about Jamba Juice's
locations as well as specific offerings and promotions by visiting
the Jamba Juice website at www.jambajuice.com or by contacting
Jamba’s Guest Services team at 1-866-4R-FRUIT (473-7848).
Forward-Looking Statements
This press release (including information incorporated or deemed
incorporated by reference herein) contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are those involving
future events and future results that are based on current
expectations, estimates, forecasts, and projections as well as the
current beliefs and assumptions of the Company’s management. Words
such as “outlook”, “believes”, “expects”, “appears”, “may”, “will”,
“should”, “anticipates”, or the negative thereof or comparable
terminology, are intended to identify such forward-looking
statements. Any statement that is not a historical fact, including
estimates, projections, future trends and the outcome of events
that have not yet occurred, is a forward-looking statement.
Forward-looking statements are only predictions and are subject to
risks, uncertainties and assumptions that are difficult to predict.
Therefore, actual results may differ materially and adversely from
those expressed in any forward-looking statements. Factors that
might cause or contribute to such differences include, but are not
limited to factors discussed under the section entitled “Risk
Factors” in the Company’s reports filed with the SEC. Many of such
factors relate to events and circumstances that are beyond the
Company’s control. You should not place undue reliance on
forward-looking statements. The Company does not assume any
obligation to update the information contained in this press
release.
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version on businesswire.com: http://www.businesswire.com/news/home/20161208006141/en/
ICRInvestor RelationsDara Dierks,
646-277-1212investors@jambajuice.com
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