NEW YORK, July 11, 2016
/PRNewswire/ -- TheStreet, Inc. (NASDAQ: TST), a leading digital
financial media company, today announced the grant of an inducement
award to its recently appointed Chief Executive Officer,
David Callaway, who officially
joined the Company on July 6,
2016. The award was approved by the Compensation Committee as
an inducement material to his acceptance of employment with the
Company in accordance with NASDAQ Listing Rule 5635(c)(4).
Mr. Callaway's appointment was previously announced by the Company
on June 9, 2016.
![TheStreet Logo. TheStreet Logo.](http://photos.prnewswire.com/prnvar/20140603/93856)
The inducement grant to Mr. Callaway consists of an option to
purchase 1,000,000 shares of the Company's common stock with an
exercise price of $1.19 per share,
equal to the closing price of the Company's Common Stock as
reported by NASDAQ on July 6, 2016,
the grant date. The option has a seven year term and vests
over a period of three years, with one-third vesting after one year
of employment and the remaining two-thirds vesting in approximately
equal monthly increments over the succeeding twenty-four months,
subject to Mr. Callaway's continued service relationship with the
Company through each vesting date, and subject to acceleration or
forfeiture upon the occurrence of certain events as set forth in
his option agreement.
About TheStreet
TheStreet, Inc. (www.t.st) is the
leading independent digital financial media company providing
business and financial news, investing ideas and analysis to
personal and institutional investors worldwide. The Company's
portfolio of business and personal finance brands includes:
TheStreet, RealMoney, RealMoney Pro, Stockpickr, Action Alerts
PLUS, Options Profits, MainStreet and RateWatch. To learn more,
visit www.thestreet.com. The Deal, the Company's
institutional business, provides intraday coverage of mergers and
acquisitions and all other changes in corporate control. To
learn more, visit www.thedeal.com.
Contact:
Eric Lundberg
Chief Financial Officer
TheStreet, Inc.
ir@thestreet.com
John Evans
Investor Relations
PIR Communications
415-309-0230
ir@thestreet.com
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SOURCE TheStreet, Inc.