Synchronoss Technologies, Inc. Reports Inducement Grants to Employees Under Nasdaq Listing Rule 5635(c)(4)
Synchronoss Technologies (SNCR) announced the issuance of restricted stock and stock option awards to nine newly hired employees as part of its 2017 New Hire Equity Incentive Plan.
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Rhea-AI Summary
Synchronoss Technologies (SNCR) announced the issuance of restricted stock and stock option awards to nine newly hired employees as part of its 2017 New Hire Equity Incentive Plan. The total awards include 6,375 time-based restricted stock grants and 2,125 time-based stock options. Both types of awards will vest 25% on each of the first four anniversaries from the grant date, contingent on continuous service. This move reflects Synchronoss' commitment to attracting talent and fostering employee retention.
Positive
- Issuance of 6,375 restricted stock awards indicates investment in workforce.
- 2,125 stock options granted may enhance employee retention and motivation.
Negative
- None.
Details
News Market Reaction – SNCR
The recorded move for SNCR in the trading session of this news was -2.90%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
BRIDGEWATER, N.J., Sept. 29, 2020 (GLOBE NEWSWIRE) -- Synchronoss Technologies, Inc. (SNCR) (the “Company” or “Synchronoss”), a global leader and innovator in cloud, messaging, digital, and IoT products and platforms, today announced that the Company issued restricted stock and stock option awards to nine newly hired employees. Each of these grants was an inducement award that was approved by the Compensation Committee of Synchronoss’ Board of Directors, and granted as an inducement equity award under the Company's 2017 New Hire Equity Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4).
Synchronoss granted the nine newly hired employees an aggregate of 6,375 time-based restricted stock awards. The shares of restricted stock will vest
About Synchronoss
Synchronoss transforms the way companies create new revenue, reduce costs and delight their subscribers with cloud, messaging, digital and IoT products, supporting hundreds of millions of subscribers across the globe. Synchronoss’ secure, scalable and groundbreaking new technologies, trusted partnerships and talented people change the way TMT customers grow their business. For more information, visit us at www.synchronoss.com
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