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
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SOURCE MDC Partners Inc.