Synchronoss Technologies, Inc. Reports Inducement Grants to Employees Under Nasdaq Listing Rule 5635(c)(4)
January 18 2019 - 04:30PM
Business Wire
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 10,650 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 3,550 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 Synchronoss
Synchronoss 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
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