Rubicon Project Grants Employment Inducement Equity Awards to New CEO
March 22 2017 - 8:00PM
Business Wire
As required by Rule 303A.08 of the New York Stock Exchange
Corporate Governance Standards, The Rubicon Project, Inc. (NYSE:
RUBI) reported today that it has made employment inducement equity
awards to Michael Barrett, Rubicon Project’s newly appointed
President and Chief Executive Officer, as a material inducement to
his being hired.
On March 17, 2017, Mr. Barrett was granted 1,099,138 restricted
stock units and a non-qualified option to purchase 634,780 shares
of Rubicon Project common stock at an exercise price of $5.80,
which was the closing price of Rubicon Project’s common stock on
the New York Stock Exchange on that date. The restricted stock
units will vest, subject to continued service, as follows: 219,075
shares on December 21, 2017; 78,608 shares on May 15, 2018; 137,392
on each November 15 and May 15 starting November 15, 2018 and
ending November 15, 2020; and 114,495 shares on May 15, 2021. The
stock option will vest, subject to continued service, with respect
to 25% of the underlying shares on the first anniversary of the
grant, and with respect to the remaining 75% of the underlying
shares in 36 equal consecutive monthly installments thereafter.
The stock option and restricted stock units are subject to
partial or full vesting acceleration upon certain terminations of
employment, as more fully described in the Company's Form 8-K filed
with the Securities and Exchange Commission on March 22, 2017.
About Rubicon Project
Founded in 2007, Rubicon Project’s mission is to keep the
Internet free and open and fuel its growth by making it easy and
safe to buy and sell advertising. Rubicon Project pioneered
advertising automation technology to enable the world’s leading
brands, content creators and application developers to trade and
protect trillions of advertising requests each month and to improve
the advertising experiences of people. Rubicon Project is a
publicly traded company (NYSE: RUBI) headquartered in Los Angeles,
California.
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Rubicon ProjectEric Bonach,
310-207-0272press@rubiconproject.com
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