Glu Mobile Announces New Employment Inducement Awards
April 12 2017 - 4:30PM
Business Wire
Glu Mobile Inc. (NASDAQ:GLUU), a leading global developer and
publisher of free-to-play mobile games, announced that on April 11,
2017, its Compensation Committee awarded the following equity
awards, in the aggregate, to 11 newly hired employees: (1)
restricted stock units covering an aggregate of 161,600 shares of
Glu’s common stock and (2) stock option awards to purchase an
aggregate of 227,400 shares of Glu’s common stock, each pursuant to
Glu’s 2008 Equity Inducement Plan.
Each of the restricted stock unit awards vests on a four-year
schedule – 25% of the underlying shares will vest on May 15, 2018,
with the remaining 75% of the underlying shares vesting in equal
quarterly installments over the next three years on the same day of
each third month (e.g., the next quarterly vesting date will be
August 15, 2018, then November 15, 2018, etc.). The stock options
have ten-year terms, vest on a four-year schedule (25% of the
underlying shares will vest on the first anniversary of the
applicable employee’s start date with Glu, and 2.083% of the
underlying shares will vest monthly thereafter), and have a per
share exercise price equal to $2.29, which was the closing price of
Glu’s common stock on the NASDAQ Global Market on the April 11,
2017 grant date.
Glu’s Compensation Committee adopted the 2008 Equity Inducement
Plan, which is a non-stockholder approved plan, to facilitate the
granting of equity awards as an inducement material to new
employees joining Glu. NASDAQ Marketplace Rule 5635(c)(4) requires
a public announcement of equity awards made under this type of
plan.
Glu Mobile
Glu Mobile (NASDAQ:GLUU) is a leading global developer and
publisher of free-to-play mobile games. Glu is focused on creating
compelling original IP games such as CONTRACT KILLER, COOKING DASH,
COVET FASHION, DEER HUNTER, DESIGN HOME, QUIZUP, RACING RIVALS, and
TAP SPORTS BASEBALL, and branded IP games including GORDON RAMSAY
DASH, KENDALL & KYLIE, and KIM KARDASHIAN: HOLLYWOOD on the App
Store, Google Play and Amazon Appstore. Founded in 2001, Glu is
headquartered in San Francisco with U.S. offices in California in
Burlingame, San Mateo and Long Beach, and international locations
in Canada, China, India, Japan, and Russia. Consumers can find
high-quality entertainment wherever they see the ‘g’ character logo
or at www.glu.com.
For live updates, please follow Glu via Twitter at
www.twitter.com/glumobile and on Instagram at
www.instagram.com/glumobile, or become a Glu fan at
www.facebook.com/glumobile.
CONTRACT KILLER, COOKING DASH, COVET FASHION, DEER HUNTER,
QUIZUP, RACING RIVALS, TAP SPORTS, GLU, GLU MOBILE, and the 'g'
character logo are trademarks of Glu Mobile Inc.
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version on businesswire.com: http://www.businesswire.com/news/home/20170412005393/en/
Investor RelationsBob Jones / Taylor KrafchikJM Strategic
Communications GroupIR@glu.com646-776-0886
Glu Mobile (NASDAQ:GLUU)
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