Stagwell Inc. Reports Equity Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
NEW YORK, Dec. 1, 2022 /PRNewswire/ -- Stagwell Inc. (the "Company") announced today the grant of equity inducement awards of Class A common stock. Effective November 28, 2022, the Company granted a total of 68,452 shares of restricted stock to six new employees as follows: Matthew Lochner, Managing Director, Stagwell Marketing Cloud - 30,000 shares; Colin Jeffery, Chief Creative Officer, Doner and Wolfgang – 10,000 shares; Samuel Zwickel, Chief of Staff, Stagwell Inc. – 3,770 shares; three other employees – a total of 24,682 shares granted under the Company's Equity Inducement Grant Program. The shares granted to Mr. Lochner will vest one-half on August 31, 2024 and, subject to achievement of Company performance objectives, one-half on March 31, 2025. The shares granted to Mr. Jeffery will vest on November 7, 2023. The shares granted to Mr. Zwickel will vest on November 7, 2024. The shares granted to the three other employees will vest in two installments, with one-third vesting on November 17, 2024 and two-thirds vesting on the November 17, 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
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 |
202-423-4414 |
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SOURCE Stagwell Inc.
