Tremor Video, Inc. Announces Employment Inducement Award to Chief Financial Officer
September 09 2015 - 8:30AM
Business Wire
Tremor Video, Inc. (NYSE:TRMR), today announced that it has
granted an employment inducement award to John Rego, the Company’s
Chief Financial Officer, in connection with the commencement of his
employment on September 8, 2015.
The award is comprised of an option to purchase 570,000 shares
of the Company’s common stock at an exercise price of $1.94 per
share, the closing price of the Company’s common stock on the New
York Stock Exchange on September 8, 2015. The option vests as to
25% of the shares underlying the award on the first anniversary of
the date of grant, with the remainder of the shares vesting in
equal monthly installments over the next three years thereafter,
provided that Mr. Rego continues to provide services to the Company
on each such vesting date. Additionally, the award may be subject
to accelerated vesting in the event that Mr. Rego is terminated
without cause or resigns for good reason following the closing of a
change in control transaction.
The award was approved by the Compensation Committee of the
Company’s Board of Directors in reliance on the employment
inducement exception to shareholder approval under Section 303A.08
of the New York Stock Exchange Listed Company Manual, and therefore
was not granted under the Company’s shareholder-approved equity
plan. This press release is being made to comply with the terms of
such exception.
About Tremor Video
Tremor Video (NYSE:TRMR) helps make every advertising moment
more relevant for consumers. The company’s heritage as custodians
of the most recognized advertiser and publisher brands is
built on leadership in all-screen analytics and a long-standing
commitment to transparency. Our premium video marketplace offers
the full spectrum of video ad products and services, including
premium programmatic buying and selling and analytics that connect
the two.
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version on businesswire.com: http://www.businesswire.com/news/home/20150909005578/en/
Tremor Video, Inc.Media:Mandy Robinson,
646-278-7416mrobinson@tremorvideo.comorInvestor
Relations:Andrew Posen, 212-792-2315IR@TremorVideo.com
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