Synchronoss Technologies, Inc. Reports Inducement Grants to Employees Under Nasdaq Listing Rule 5635(c)(4)
August 28 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 seven
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 seven newly hired employees an aggregate
of 8,813 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
2,937 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
Media:CCGroupUS: Diane Rose, +1
727-238-7567International: Alex Sowden, +44 20 3824
9208synchronoss@ccgrouppr.com
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