NEW YORK, Nov. 3, 2016 /PRNewswire/ -- TheStreet, Inc.
(NASDAQ: TST), a leading financial news and information company,
today announced the grant of an inducement award to its newly
appointed President of TheStreet, Institutional Services,
Jeff Davis. 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).
![TheStreet Logo. TheStreet Logo.](http://photos.prnewswire.com/prnvar/20140603/93856)
The inducement grant to Mr. Davis consists of an option to
purchase 200,000 shares of the Company's common stock with an
exercise price of $0.97 per share,
equal to the closing price of the Company's Common Stock as
reported by NASDAQ on November 1,
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. Davis' 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. (NASDAQ: TST, www.t.st) is a leading financial
news and information provider to investors and institutions
worldwide. The Company's flagship brand, TheStreet
(www.thestreet.com), is celebrating its 20th year of producing
unbiased business news and market analysis for individual
investors. The Company's portfolio of institutional brands includes
The Deal (www.thedeal.com), which provides actionable, intraday
coverage of mergers, acquisitions and all other changes in
corporate control; BoardEx (www.boardex.com), a relationship
mapping service of corporate directors and officers; and RateWatch
(www.ratewatch.com), which supplies rate and fee data from banks
and credit unions across the U.S.
Contacts: Eric Lundberg,
Chief Financial Officer, TheStreet, Inc., ir at thestreet.com;
John Evans, Investor Relations, PIR
Communications, 415-309-0230, ir at
thestreet.com
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SOURCE TheStreet, Inc.