NEW YORK, June 21, 2019 /CNW/ -- (NASDAQ: MDCA)
– MDC Partners Inc. (the "Company") announced today that it
had granted inducement awards to its newly-appointed Chief
Financial Officer, Frank
Lanuto. Effective, June 12,
2019, the Company granted to Mr. Lanuto (i) 225,000 stock
appreciation rights ("SARs") in respect of the Company's Class A
subordinate voting shares ("Class A Shares"), which will be settled
in Class A Shares, with an exercise price equal to $2.19 and (ii) 225,000 SARs, which will be
settled in Class A Shares, with an exercise price equal to
$5.00 (clause (i) and (ii)
collectively, the "Lanuto SARs"). The Lanuto SARs will vest
and be exercisable in full in three equal installments on each of
the first three (3) anniversaries of June
10, 2019, subject to Mr. Lanuto's continued employment with
the Company through each vesting date. The Lanuto SARs will expire
on the fifth anniversary of Mr. Lanuto's employment commencement
date to the extent not exercised, and will be subject to
accelerated vesting upon (i) death or disability, (ii) termination
of employment without "Cause" or with "Good Reason," or (iii) a
change in control of the Company. The Company granted these awards
as a material inducement to Mr. Lanuto's employment with the
Company in accordance with NASDAQ Listing Rule 5635(c)(4).
About MDC Partners Inc.
MDC Partners is one of the fastest-growing and most influential
marketing and communications networks in the world. Its 50+
advertising, public relations, branding, digital, social and event
marketing agencies are responsible for some of the most memorable
and engaging campaigns for the world's most respected brands.
As "The Place Where Great Talent Lives," MDC Partners is known for
its unique partnership model, empowering the most entrepreneurial
and innovative talent to drive competitive advantage and business
growth for clients. By leveraging technology, data analytics,
insights, and strategic consulting solutions, MDC Partners drives
measurable results and optimizes return on marketing investment for
over 1,700 clients worldwide. For more information about MDC
Partners and its partner firms, visit www.mdc-partners.com and
follow us on Twitter: http://www.twitter.com/mdcpartners.
CONTACT:
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Alex
Delanghe
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|
Chief Communications
Officer
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646-429-1845
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adelanghe@mdc-partners.com
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SOURCE MDC Partners Inc.