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 options as inducement awards to a newly hired employee.
Sentiment and the balance of points
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Rhea-AI Summary
Synchronoss Technologies, Inc. (SNCR) announced the issuance of restricted stock and stock options as inducement awards to a newly hired employee. The grant includes 675 restricted stock awards and 225 stock option awards, with a vesting schedule of 25% per year for four years, contingent on continuous service. These awards were authorized by the Compensation Committee under the 2017 New Hire Equity Incentive Plan, complying with Nasdaq Listing Rule 5635(c)(4). This step indicates the company's commitment to attracting talent and enhancing its operational capacity.
Positive
- Issuance of 675 restricted stock awards indicates commitment to employee retention and attraction.
- The grants were made under the 2017 New Hire Equity Incentive Plan, suggesting strategic growth initiatives.
Negative
- None.
Details
News Market Reaction – SNCR
The recorded move for SNCR in the trading session of this news was +2.41%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
BRIDGEWATER, N.J., July 02, 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 one newly hired employee. 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 one newly hired employee an aggregate of 675 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.
Contacts
Investors
Joseph Crivelli
Synchronoss
908-566-3131
investor@synchronoss.com
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