SAN FRANCISCO — Glu Cellular Inc. (NASDAQ: GLUU), a number one developer and writer of cellular video games, in the present day introduced that on Might 14, 2019, its Compensation Committee awarded the next fairness awards, within the mixture, to 4 newly employed workers: (1) time-vesting inventory possibility awards to buy an mixture of 105,361 shares of Glu’s widespread inventory, (2) time-vesting restricted inventory unit awards masking an mixture of 13,500 shares of Glu’s widespread inventory and (three) performance-based restricted inventory unit awards masking an mixture of 13,424 shares of Glu’s widespread inventory, every pursuant to Glu’s 2018 Fairness Inducement Plan.
The time-vesting inventory choices have ten-year phrases, vest on a four-year schedule (25% of the underlying shares will vest on Might 14, 2020 and a pair of.083% of the underlying shares will vest month-to-month thereafter) and have a per share train value equal to $eight.63, which was the closing value of Glu’s widespread inventory on the Nasdaq International Choose Market on the Might 14, 2019 grant date. The time-vesting restricted inventory unit awards vest with respect to 25% of the underlying shares on Might 15, 2020, with the remaining 75% of the underlying shares vesting in equal quarterly installments over the subsequent three years on the identical day of every third month (e.g., the subsequent quarterly vesting date will likely be August 15, 2020, then November 15, 2020, and many others.). The variety of performance-based restricted inventory items that will likely be earned, if any, will rely on the extent to which Glu achieves sure Adjusted EBITDA and bookings objectives throughout 2019, with any earned performance-based restricted inventory items vesting in full on Might 15, 2020.
Glu’s Compensation Committee adopted the 2018 Fairness Inducement Plan, which is a non-stockholder accepted plan, to facilitate the granting of fairness awards as an inducement materials to new workers becoming a member of Glu. Nasdaq Market Rule 5635(c)(four) requires a public announcement of fairness awards made beneath one of these plan.
About Glu Cellular
Glu Cellular (NASDAQ: GLUU) is a number one creator of cellular video games. Based in 2001, Glu is headquartered in San Francisco with further places in San Mateo, Toronto and Hyderabad. With a historical past spanning over a decade, Glu’s tradition is rooted in taking good dangers and fostering creativity to ship world-class interactive experiences for our gamers. Glu’s numerous portfolio options top-grossing and award-winning authentic and licensed IP titles together with, Cooking DASH, Covet Trend, Deer Hunter, Design House, MLB Faucet Sports activities Baseball and Kim Kardashian: Hollywood obtainable worldwide on varied platforms together with the App Retailer and Google Play. For extra info, go to www.glu.com or observe Glu on Twitter, Fb and Instagram.
Cooking DASH, Covet Trend, Deer Hunter, Design House, Faucet Sports activities, Glu and Glu Cellular are logos of Glu Cellular Inc.
Bob Jones / Taylor Krafchik