WATERLOO, ON, Feb. 25,
2022 /CNW/ -- BlackBerry Limited (NYSE: BB; TSX:
BB) today announced that it has granted an equity inducement award
to John Giamatteo, President of
BlackBerry's Cybersecurity business unit.
BlackBerry is issuing this announcement pursuant to, and in
reliance on, the employment inducement exemption under the NYSE's
Listed Company Manual Rule 303A.08. Mr. Giamatteo's equity
inducement award was granted outside of the Company's Amended and
Restated Equity Incentive Plan.
Mr. Giamatteo received an award of 800,425 time-based and
performance-based restricted share units (the "RSUs") as a
material inducement to entering into employment with BlackBerry.
Mr. Giamatteo's employment began on October
4, 2021.
The time-based RSUs will vest in equal installments on the first
three anniversaries of January 3,
2022. Subject to the satisfaction of certain performance
conditions, the performance-based RSUs will vest on January 3, 2025.
If Mr. Giamatteo's employment is terminated without cause or he
resigns for good reason absent a change of control, any unvested
RSUs will continue to vest during the severance period provided
under Mr. Giamatteo's employment agreement. If Mr. Giamatteo's
employment is terminated without cause or he resigns for good
reason during the negotiation of or within 24 months following the
completion of a change of control, or if Mr. Giamatteo dies, any
unvested RSUs will vest immediately. Any unvested RSUs will be
cancelled in the event of Mr. Giamatteo's resignation or
termination for cause.
About BlackBerry
BlackBerry (NYSE: BB; TSX: BB) provides intelligent security
software and services to enterprises and governments around the
world. The company secures more than 500M endpoints including over 195M vehicles. Based in Waterloo, Ontario, the company leverages AI
and machine learning to deliver innovative solutions in the areas
of cybersecurity, safety and data privacy solutions, and is a
leader in the areas of endpoint management, endpoint security,
encryption, and embedded systems. BlackBerry's vision is clear - to
secure a connected future you can trust.
BlackBerry. Intelligent Security. Everywhere.
For more information, visit BlackBerry.com and follow
@BlackBerry.
Trademarks, including but not limited to BLACKBERRY and
EMBLEM Design are the trademarks or registered trademarks of
BlackBerry Limited, and the exclusive rights to such trademarks are
expressly reserved. All other trademarks are the property of their
respective owners. BlackBerry is not responsible for any
third-party products or services.
Media Contact:
BlackBerry Media Relations
+1 (519) 597-7273
mediarelations@BlackBerry.com
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SOURCE BlackBerry Limited