BRIDGEWATER, N.J.--(BUSINESS WIRE)--May 11, 2018--
Synchronoss Technologies, Inc. (SNCR)
(the “Company” or “Synchronoss”), a global leader and innovator in
cloud, messaging, digital, and IoT products and platforms, 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 seven newly hired employees an aggregate of
11,475 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 3,325 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.
About Synchronoss
Synchronoss transforms the way companies create new revenue, reduce
costs and delight their subscribers with cloud, messaging, digital and
IoT 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.
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Source: Synchronoss Technologies, Inc.
CCgroup
US:
Diane Rose, 727-238-7567
or
International:
Sarah
Walker, +44 20 3824 9200
synchronoss@ccgrouppr.com