Glu Mobile Announces New Employment Inducement Awards
April 11 2018 - 4:30PM
Business Wire
Glu Mobile Inc. (NASDAQ:GLUU), a leading developer and publisher
of mobile games, today announced that on April 10, 2018, its
Compensation Committee awarded stock options to purchase an
aggregate of 48,400 shares of Glu’s common stock to five newly
hired employees pursuant to Glu’s 2018 Equity Inducement Plan. The
stock options have ten-year terms, vest on a four-year schedule
(25% of the underlying shares will vest on April 10, 2019 and
2.083% of the underlying shares will vest monthly thereafter), and
have a per share exercise price equal to $3.78, which was the
closing price of Glu’s common stock on the NASDAQ Global Select
Market on the April 10, 2018 grant date.
Glu’s Compensation Committee adopted the 2018 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.
About Glu Mobile
Glu Mobile (NASDAQ: GLUU) is a leading creator of mobile games.
Founded in 2001, Glu is headquartered in San Francisco with Bay
Area studios in Burlingame and San Mateo, and international
locations in Toronto and Hyderabad. With a history spanning over a
decade, Glu’s culture is rooted in taking smart risks and fostering
creativity to deliver world-class interactive experiences for our
players. Glu’s diverse portfolio features top-grossing and
award-winning original and licensed IP titles including, Cooking
DASH, Covet Fashion, Deer Hunter, Design Home, MLB Tap Sports
Baseball and Kim Kardashian: Hollywood available worldwide on
various platforms including the App Store and Google Play. For more
information, visit www.glu.com or follow Glu on Twitter, Facebook
and Instagram.
Cooking DASH, Covet Fashion, Deer Hunter, Design Home, Tap
Sports, Glu and Glu Mobile are trademarks of Glu Mobile Inc.
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