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 options to six newly hired employees.
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Rhea-AI Summary
Synchronoss Technologies (SNCR) announced the issuance of restricted stock and stock options to six newly hired employees. A total of 6,600 restricted stock awards and 2,200 stock options were granted, all structured as inducement awards under the 2017 New Hire Equity Incentive Plan. The awards will vest 25% annually over four years, contingent on continued service. This move is part of Synchronoss' strategy to attract talent and enhance its growth in cloud, messaging, and digital products.
Positive
- Issuance of 6,600 restricted stock awards and 2,200 stock options to attract new talent.
- Awards structured to vest over four years, promoting employee retention.
Negative
- None.
Details
News Market Reaction – SNCR
The recorded move for SNCR in the trading session of this news was -0.51%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
BRIDGEWATER, N.J., March 25, 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 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 6,600 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 and digital 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.
Media
Diane Rose
CCgroup
diane@ccgrouppr.com
Investors
Todd Kehrli/Joo-Hun Kim
MKR Investor Relations, Inc.
investor@synchronoss.com
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