Stagwell Inc. Reports Equity Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Stagwell Inc. (NASDAQ: STGW) announced the grant of 3,556 shares of restricted stock to a new employee as an equity inducement award, effective December 19, 2022. The shares will vest in two installments: one-third on December 15, 2024, and two-thirds on December 15, 2025. Accelerated vesting is possible under specific conditions, including termination without cause or due to death or disability. This action is in line with Nasdaq Listing Rule 5635(c)(4).

Positive

• Granting of equity inducement awards may attract talent.
• Accelerated vesting provides security for employees.

Negative

• None.

News Market Reaction – STGW

-2.39%

-2.39% Session move

In the trading session that priced this news, STGW declined 2.39%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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NEW YORK, Dec. 27, 2022 /PRNewswire/ -- Stagwell Inc. (the "Company") (NASDAQ: STGW) announced today the grant of an equity inducement award of Class A common stock. Effective December 19, 2022, the Company granted 3,556 shares of restricted stock to one new employee. The shares granted will vest in two installments, with one-third vesting on December 15, 2024 and two-thirds vesting on the December 15, 2025. The restricted shares are subject to accelerated vesting upon (i) termination of employment by the Company without Cause or (ii) death or disability. The Company granted these awards as a material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4).

For more information on Stagwell, please visit www.stagwellglobal.com

About Stagwell

Stagwell is the challenger network built to transform marketing. We deliver scaled creative performance for the world's most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing. Led by entrepreneurs, our 13,000+ specialists in 34+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients. Join us at www.stagwellglobal.com.

Contact:

Beth Sidhu Beth.Sidhu@stagwellglobal.com  202-423-4414

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SOURCE Stagwell Inc.

FAQ

What was the equity inducement award granted by Stagwell on December 19, 2022?

Stagwell granted 3,556 shares of restricted stock to a new employee.

When will the restricted stock granted to the new employee vest?

The shares will vest in two installments: one-third on December 15, 2024, and two-thirds on December 15, 2025.

What conditions allow for accelerated vesting of the awarded shares?

Accelerated vesting occurs upon termination without cause or due to death or disability.

Which Nasdaq listing rule does the equity inducement award comply with?

The award is in accordance with Nasdaq Listing Rule 5635(c)(4).

What does the grant of restricted stock indicate about Stagwell's hiring strategy?

It suggests a strategic effort to attract and retain talent.