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 for seven new employees, approved by the Compensation Committee under the 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 for seven new employees, approved by the Compensation Committee under the 2017 New Hire Equity Incentive Plan. A total of 5,625 restricted stock awards and 1,875 stock options were granted. The restricted stock will vest over four years, while the stock options follow the same vesting schedule. This strategic move aims to attract talent and enhance employee retention, crucial for Synchronoss’s growth in the cloud and digital products sector.
Positive
- Issuance of 5,625 restricted stock awards and 1,875 stock option awards to new employees.
- Strategic employee incentives may enhance talent acquisition and retention.
Negative
- None.
Details
News Market Reaction – SNCR
The recorded move for SNCR in the trading session of this news was +3.27%.
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BRIDGEWATER, N.J., Sept. 24, 2021 (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 seven 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 seven newly hired employees an aggregate of 5,625 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 1,500 talented Synchronoss employees worldwide strive each day to reimagine a world in sync. Learn more at www.synchronoss.com
Media
Diane Rose
CCgroup
diane@ccgrouppr.com
Investors
Todd Kehrli/Joo-Hun Kim
MKR Investor Relations, Inc.
investor@synchronoss.com
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