Synchronoss Technologies, Inc. Reports Inducement Grants to Employees Under Nasdaq Listing Rule 5635(c)(4)
Synchronoss Technologies (SNCR) announced on June 29, 2022, the issuance of restricted stock and stock option awards to six new employees as part of its 2017 New Hire Equity Incentive Plan.
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Rhea-AI Summary
Synchronoss Technologies (SNCR) announced on June 29, 2022, the issuance of restricted stock and stock option awards to six new employees as part of its 2017 New Hire Equity Incentive Plan. A total of 5,775 time-based restricted stock awards and 1,925 time-based stock option awards were granted, with vesting occurring over four years, contingent upon continuous service. This initiative aims to enhance employee retention and align their interests with the company’s growth, reflecting a commitment to expanding the workforce in cloud and digital services.
Positive
- Issuance of equity awards to new employees supports retention and aligns interests with company growth.
- Total of 5,775 restricted stock and 1,925 stock options granted indicates strategic investment in talent.
Negative
- None.
Details
News Market Reaction – SNCR
The recorded move for SNCR in the trading session of this news was -0.86%.
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BRIDGEWATER, N.J., June 29, 2022 (GLOBE NEWSWIRE) -- Synchronoss Technologies, Inc. (SNCR) (the “Company” or “Synchronoss”), a global leader and innovator in cloud, messaging and digital products and platforms, today announced that the Company issued restricted stock and stock option awards to six 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 six newly hired employees an aggregate of 5,775 time-based restricted stock awards. The shares of restricted stock will vest
About Synchronoss
Synchronoss Technologies (NASDAQ: SNCR) builds software that empowers companies around the world to connect with their subscribers in trusted and meaningful ways. The company’s collection of products helps streamline networks, simplify onboarding, and engage subscribers to unleash new revenue streams, reduce costs and increase speed to market. Hundreds of millions of subscribers trust Synchronoss products to stay in sync with the people, services and content they love. That’s why more than 1,300 talented Synchronoss employees worldwide strive each day to reimagine a world in sync. Learn more at www.synchronoss.com
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Domenick Cilea
Springboard
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Investors
Matt Glover/Tom Colton
Gateway Group, Inc.
SNCR@gatewayir.com
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