BRIDGEWATER, N.J.--(BUSINESS WIRE)--Apr. 11, 2018--
Synchronoss Technologies, Inc. (SNCR)
(the “Company” or “Synchronoss”), a global leader and innovator in
cloud, messaging, and digital products, today announced that the Company
issued restricted stock and stock option awards to seventeen 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 outside the
Company's 2015 New Hire Equity Incentive Plan in accordance with Nasdaq
Listing Rule 5635(c)(4).
Synchronoss granted the seventeen newly hired employees an aggregate of
39,450 time-based restricted stock awards. The shares of restricted
stock will vest 25% when the employee completes 12 months of continuous
service and 1/16th when the employee completes each
additional 3 months of continuous service thereafter. In addition, the
employees received an aggregate of 11,650 time-based stock option
awards. The Stock Options will vest 25% when the employee completes 12
months of continuous service and 1/48th when the employees
completes each additional month of continuous service thereafter.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180411005758/en/
Source: Synchronoss Technologies, Inc.
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