Synchronoss Technologies, Inc. Reports Inducement Grants to Employees Under Nasdaq Listing Rule 5635(c)(4)
June 25 2019 - 4:35PM
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 fourteen
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 fourteen newly hired employees an
aggregate of 16,450 time-based restricted stock awards. The shares
of restricted stock will vest 25% when the employee completes 12
months of continuous service and 1/16th when the employee completes
each additional 3 months of continuous service thereafter. In
addition, the employees received an aggregate of 5,150 time-based
stock option awards. The Stock Options will vest 25% when the
employee completes 12 months of continuous service and 1/48th when
the employees complete each additional month of 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
9208 synchronoss@ccgrouppr.com
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