Synchronoss Technologies, Inc. Reports Inducement Grants to Employees Under Nasdaq Listing Rule 5635(c)(4)
April 26 2019 - 3:31PM
Synchronoss Technologies, Inc. (SNCR) (the “Company” or
“Synchronoss”), a global leader and innovator in cloud, messaging,
digital, and IoT products and platforms, today announced that the
Company issued restricted stock and stock option awards to twenty
five newly hired employees. Each of these grants was an inducement
award that was approved by the Compensation Committee of
Synchronoss’ Board of Directors, and granted as an inducement
equity award under the Company's 2017 New Hire Equity Incentive
Plan in accordance with Nasdaq Listing Rule 5635(c)(4).
Synchronoss granted the twenty five newly hired
employees an aggregate of 18,564 time-based restricted stock
awards. The shares of restricted stock will vest 25% when the
employee completes 12 months of continuous service and
1/16th when the employee completes each additional 3 months of
continuous service thereafter. In addition, the employees received
an aggregate of 6,186 time-based stock option awards. The Stock
Options will vest 25% when the employee completes 12 months of
continuous service and 1/48th when the employees complete each
additional month of continuous service thereafter.
About SynchronossSynchronoss transforms the way
companies create new revenue, reduce costs and delight their
subscribers with cloud, messaging, digital and IoT products,
supporting hundreds of millions of subscribers across the globe.
Synchronoss’ secure, scalable and groundbreaking new technologies,
trusted partnerships and talented people change the way TMT
customers grow their business. For more information, visit us
at www.synchronoss.com.
Media:CCGroupUS: Diane Rose, +1
727-238-7567International: Alex Sowden, +44 20 3824
9208synchronoss@ccgrouppr.com
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