J.Jill, Inc. Announces Inducement Grant Under New York Stock Exchange Rule 303A.08
On February 15, 2021, J.Jill, Inc. (NYSE: JILL) made a grant to
Claire Spofford of 300,000 restricted stock units in respect of the
company’s common stock (“RSUs”). The grant of RSUs was offered as a
material inducement to Ms. Spofford’s hiring as Chief Executive
Officer of the company. Ms. Spofford, whose hiring was announced on
October 7, 2020, joined the company on February 15, 2021.
The RSUs were granted outside the terms of the company’s 2017
Omnibus Equity Incentive Plan and approved by the company’s Board
of Directors in reliance on the employment inducement exemption
under the NYSE’s Listed Company Manual Rule 303A.08, which requires
public announcement of inducement awards. The company is issuing
this press release pursuant to Rule 303A.08.
The RSUs shall generally vest and become exercisable in equal
installments on each of the first four anniversaries of the grant
date, subject to Ms. Spofford’s continued employment with the
company. Additionally, the RSUs may be subject to accelerated
vesting in the event of certain qualifying terminations of
employment of Ms. Spofford’s employment.
About J.Jill, Inc.
J.Jill is a premier omnichannel retailer and nationally
recognized women’s apparel brand committed to delighting customers
with great wear-now product. The brand represents an easy, relaxed,
inspired style that reflects the confidence and comfort of a woman
with a rich, full life. J.Jill offers a guiding customer experience
through more than 270 stores nationwide and a robust e-commerce
platform. J.Jill is headquartered outside Boston. For more
information, please visit www.JJill.com. The information included
on J.Jill’s website is not incorporated by reference herein.
version on businesswire.com: https://www.businesswire.com/news/home/20210218006008/en/
Investors: Caitlin Churchill/Joseph Teklits ICR, Inc.
Media: Chris Gayton J.Jill, Inc. email@example.com