J. C. Penney Company, Inc. Grants Previously Disclosed Equity Inducement Award to Jill Soltau
October 18 2018 - 5:04PM
PLANO, Texas -
(Oct. 18, 2018) - In accordance with the New York Stock
Exchange rules regarding equity inducement awards, J. C. Penney
Company, Inc. (NYSE: JCP) announced that on Oct. 18, 2018, an
equity inducement award of 6,711,409 restricted stock units (RSUs)
was granted to Jill Soltau, the Company's chief executive officer,
in connection with the commencement of her employment. Of the RSUs
comprising Soltau's inducement award, 3,611,409 RSUs were granted
under the Company's existing 2018 Long-Term Incentive Plan
and 3,100,000 RSUs were granted as a standalone equity
inducement award. The Company previously disclosed this award in
connection with the announcement of Soltau's appointment on Oct.
2.
The RSUs will vest in thirds on
the first, second and third anniversaries, respectively, of the
grant date, provided Soltau remains continuously employed with the
Company through those dates. The award fully vests if Soltau is
involuntarily terminated for any reason other than cause, if Soltau
voluntarily terminates her employment for good reason and if her
employment terminates in certain cases within two years following a
change in control of the Company.
Corporate
Communications & Public Relations:
(972) 431-3400 or jcpnews@jcp.com
Follow @jcpnews on Twitter for the latest announcements and Company
information.
Investor
Relations:
(972) 431-5500 or jcpinvestorrelations@jcp.com
About
JCPenney:
J. C. Penney Company, Inc. (NYSE: JCP), one of the nation's largest
apparel and home retailers, combines an expansive footprint of over
860 stores across the United States and Puerto Rico with a powerful
e-commerce site, jcp.com, to deliver style and value for all
hard-working American families. At every touchpoint, customers will
discover stylish merchandise at incredible value from an extensive
portfolio of private, exclusive and national brands. Reinforcing
this shopping experience is the customer service and warrior spirit
of approximately 98,000 associates across the globe, all driving
toward the Company's mission to help customers find what they love
for less time, money and effort. For additional information, please
visit jcp.com.
###
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: J. C. Penney Company, Inc. via Globenewswire
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