Avaya Announces Inducement Grants under NYSE Rule
December 10 2019 - 04:31PM
Business Wire
Avaya Holdings Corp. (NYSE:AVYA), a global leader in solutions
to enhance and simplify communications and collaboration, today
announced that the Compensation Committee of Avaya’s Board of
Directors (the “Committee”) granted certain equity awards to its
Executive Vice President, Chief Product Officer, Mr. Anthony
Bartolo, effective upon Mr. Bartolo’s commencement of employment
with the Company on December 9, 2019.
The Committee granted 87,873 time-based restricted stock units
and nonqualified stock options to purchase 163,666 shares of Avaya
common stock to Mr. Bartolo as a material inducement to Mr.
Bartolo’s commencing employment with Avaya in accordance with NYSE
Listing Company Manual Rule 303A.08. The stock options have an
exercise price per share that is equal to the closing price of
Avaya common stock on the New York Stock Exchange on December 9,
2019.
Both awards vest over three years, with one-third of the total
number of shares underlying the awards vesting on the first
established quarterly vesting date after the first anniversary of
the date of grant and then in equal, quarterly increments over the
next two years on such quarterly vesting dates, subject to Mr.
Bartolo’s continued employment with Avaya. The awards will be
immediately vested if Mr. Bartolo resigns for “good reason” or is
terminated by Avaya without “cause,” in each case, either (i)
during a “potential change in control period” (as defined in
Avaya’s Change in Control Severance Plan) or (ii) within 24 months
following a change in control of Avaya.
About Avaya
Businesses are built on the experiences they provide, and
everyday millions of those experiences are built by Avaya (NYSE:
AVYA). For over one hundred years, we’ve enabled organizations
around the globe to win – by creating intelligent communications
experiences for customers and employees. Avaya builds open,
converged and innovative solutions to enhance and simplify
communications and collaboration – in the cloud, on-premise or a
hybrid of both. To grow your business, we’re committed to
innovation, partnership, and a relentless focus on what’s next.
We’re the technology company you trust to help you deliver
Experiences that Matter. Visit us at www.avaya.com.
Source: Avaya Newsroom
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Alex Alias alalias@avaya.com
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