Synchronoss Technologies, Inc. Reports Inducement Grants to Employees Under Nasdaq Listing Rule 5635(c)(4)
July 31 2020 - 4:30PM
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 thirteen
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 thirteen newly hired
employees an aggregate of 9,677 time-based restricted stock awards.
The shares of restricted stock will vest 25% on the first, second,
third and fourth anniversary of the grant date subject to
continuous service thereafter. In addition, the employees received
an aggregate of 3,223 time-based stock option awards. The Stock
Options will vest 25% on the first, second, third, and fourth
anniversary of the grant date subject to 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
Investors:Leslie GahaganInvestor
Relations Analyst908-566-3131investor@synchronoss.com
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