Synchronoss Technologies, Inc. Reports Inducement Grants to Employees Under Nasdaq Listing Rule 5635(c)(4)
Synchronoss Technologies, Inc. (SNCR) announced the issuance of restricted stock and stock option awards to nine new employees as part of its hiring strategy.
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Rhea-AI Summary
Synchronoss Technologies, Inc. (SNCR) announced the issuance of restricted stock and stock option awards to nine new employees as part of its hiring strategy. A total of 7,575 restricted stock awards and 2,525 stock options were granted, both vesting over four years with continuous service conditions. This initiative aligns with the Company's equity incentive plan and Nasdaq Listing Rule 5635. The move aims to incentivize new talent and strengthen organizational growth in cloud, messaging, and digital products.
Positive
- Issuance of 7,575 restricted stock awards and 2,525 stock options to attract talent.
- Grants made under the 2017 New Hire Equity Incentive Plan, indicating structured employee compensation strategy.
Negative
- None.
Details
News Market Reaction – SNCR
The recorded move for SNCR in the trading session of this news was +10.38%.
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BRIDGEWATER, N.J., Oct. 31, 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 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 7,575 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. Learn more at www.synchronoss.com.
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Springboard
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Investors
Matt Glover/Tom Colton
Gateway Group, Inc.
SNCR@gatewayir.com
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