MDC Partners Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Date : 06/28/2019 @ 9:48PM
Source : PR Newswire (Canada)
Stock : MDC Partners Inc (MDCA)
Quote : 2.8  -0.02 (-0.71%) @ 4:02PM

MDC Partners Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

MDC Partners (NASDAQ:MDCA)
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NEW YORK, June 28, 2019 /CNW/ -- (NASDAQ: MDCA) -- MDC Partners Inc. (the "Company") announced today that it had granted inducement awards to its newly-appointed General Counsel and Corporate Secretary, Jonathan Mirsky, and Chief Operating Officer, Seth Gardner, as set forth below.

Inducement Awards to Jonathan Mirsky, General Counsel and Corporate Secretary

Effective June 26, 2019, the Company granted to Mr. Mirsky (i) 250,000 stock appreciation rights ("SARs"), which will be settled in the Company's Class A subordinate voting shares ("Class A Shares"), with an exercise price equal to $5.00 (the "Mirsky SARs") and (ii) 250,000 restricted Class A Shares (the "Mirsky Restricted Shares").  The Mirsky SARs and Mirsky Restricted Shares will vest in three equal installments on each of the first three (3) anniversaries of June 17, 2019, subject to Mr. Mirsky's continued employment with the Company through each vesting date. The Mirsky SARs will expire on the fifth anniversary of Mr. Mirsky's employment commencement date to the extent not exercised.  The Mirsky SARs and Mirsky Restricted Shares 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. Mirsky's employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4).

Inducement Awards to Seth Gardner, Chief Operating Officer

Effective June 28, 2019, the Company granted to Mr. Gardner (i) 225,000 SARs, which upon exercise will be settled in Class A Shares, with an exercise price equal to $5.00 (the "Gardner SARs") and (ii) 225,000 restricted Class A Shares (the "Gardner Restricted Shares").  The Gardner SARs and Gardner Restricted Shares will vest in three equal installments on each of the first three (3) anniversaries of June 17, 2019, subject to Mr. Gardner's continued employment with the Company through each vesting date. The Gardner SARs will expire on the fifth anniversary of Mr. Gardner's employment commencement date to the extent not exercised.  The Gardner SARs and Gardner Restricted Shares 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. Gardner'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:
Alex Delanghe
Chief Communications Officer
646-429-1845
adelanghe@mdc-partners.com

 

MDC Partners Logo. (PRNewsfoto/MDC Partners Inc.)

 

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SOURCE MDC Partners Inc.

Copyright 2019 Canada NewsWire

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