SAN FRANCISCO, Sept. 4, 2020 /PRNewswire/ -- Castlight
Health, Inc. (NYSE: CSLT), a leading health benefits platform
provider, today reported an equity inducement award to
Vijay Anand, Castlight's new
Executive Vice President of Engineering.
In accordance with The New York Stock Exchange's Listed Company
Manual Rule 303A.08, on September 3,
2020, the Compensation and Talent Committee of Castlight's
Board of Directors granted Mr. Anand a stock option award to
purchase 1,178,000 shares of Class B common stock and a restricted
stock unit award for 760,870 shares of Class B common stock as a
material inducement to join Castlight.
The stock options have an exercise price of $1.19 per share, which is equal to the closing
price of Castlight's Class B common stock on the New York Stock
Exchange on September 3, 2020.
The stock options and restricted stock units will both vest over a
four-year period, with 25% of the shares vesting on the one-year
anniversary of August 16, 2020, the
vesting commencement date, and thereafter the remaining shares will
vest quarterly thereafter, subject to Mr. Anand's continued
service.
All of the stock options and restricted stock units were granted
outside the terms of Castlight's equity incentive plans in reliance
on the employment inducement exemption under the NYSE's Listed
Company Manual Rule 303A.08. Pursuant to the requirements of that
rule, Castlight is issuing this press release.
About Castlight Health
Castlight is on a mission to
make it as easy as humanly possible for its users to navigate the
healthcare system and live happier, healthier, more productive
lives. Our health navigation platform connects hundreds of health
vendors, benefits resources, and plan designs into one
comprehensive health and wellbeing experience. We guide
individuals—based on their unique profile—to the best resources
available to them, whether they are healthy, chronically ill, or
actively seeking medical care. Castlight transforms the employee
benefit experience into a deeply personalized, yet simple, guided
one, empowering better-informed patient decisions to unlock better
healthcare outcomes and maximizing return on healthcare
investments.
For more information visit www.castlighthealth.com. Follow us on
Twitter and LinkedIn and Like us on Facebook.
Castlight Media Contact:
Caroline Kawashima
press@castlighthealth.com
415-246-0313
Castlight Investor Contact:
ir@castlighthealth.com
443-213-0500
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SOURCE Castlight Health, Inc.