Glu Mobile Announces New Employment Inducement Awards
11 December 2015 - 8:05AM
Business Wire
Glu Mobile Inc. (NASDAQ: GLUU), a leading global developer and
publisher of free-to-play games for smartphone and tablet devices,
announced that on December 9, 2015, its Compensation Committee
awarded to Nick Earl, the Company’s new President of Global
Studios, (1) restricted stock units covering 500,000 shares of
Glu's common stock and (2) a nonqualified stock option to purchase
300,000 shares of Glu’s common stock, each pursuant to Glu's 2008
Equity Inducement Plan.
The restricted stock unit award vests on a four-year schedule -
25% of the underlying shares will vest on November 15, 2016, with
the remaining 75% of the underlying shares vesting in equal
quarterly installments over the next three years on the same day of
each third month (e.g., the next quarterly vesting date will be
February 15, 2017, then May 15, 2017, etc.). The stock option will
have a ten-year term, vest on a four-year schedule (25% of the
underlying shares will vest on November 9, 2016, the first
anniversary of Mr. Earl’s start date at Glu, and 2.083% of the
underlying shares will vest monthly thereafter), and has a per
share exercise price equal to $2.92, which was the closing price of
Glu’s common stock on the NASDAQ Global Market on the December 9,
2015 grant date. In addition, in order to issue such grants, Glu’s
Compensation Committee on December 9, 2015 amended the 2008 Equity
Inducement Plan in order to increase the number of shares reserved
for issuance under the plan by 1,000,000 shares.
Glu’s Compensation Committee adopted the 2008 Equity Inducement
Plan, which is a non-stockholder approved plan, to facilitate the
granting of equity awards as an inducement material to new
employees joining Glu. NASDAQ Marketplace Rule 5635(c)(4) requires
a public announcement of equity awards made under this type of
plan.
Glu Mobile
Glu Mobile (NASDAQ:GLUU) is a leading global developer and
publisher of free-to-play games for smartphone and tablet devices.
Glu is focused on creating compelling original IP games such as
CONTRACT KILLER, COOKING DASH, DEER HUNTER, DINER DASH, DINO
HUNTER: DEADLY SHORES, ETERNITY WARRIORS, FRONTLINE COMMANDO,
RACING RIVALS, TAP SPORTS BASEBALL, and TAP SPORTS FOOTBALL, and
branded IP games including KIM KARDASHIAN: HOLLYWOOD, ROBOCOP: THE
OFFICIAL GAME, MISSION IMPOSSIBLE: ROGUE NATION and SNIPER X WITH
JASON STATHAM on the App Store, Google Play, Amazon Appstore,
Facebook, Mac App Store, and Windows Phone. Glu’s unique technology
platform enables its titles to be accessible to a broad audience of
consumers globally. Founded in 2001, Glu is headquartered in San
Francisco with major U.S. offices outside Seattle and in Long
Beach, and international locations in Canada, China, India, Japan,
Korea, and Russia. Consumers can find high-quality entertainment
wherever they see the ‘g’ character logo or at www.glu.com.
For live updates, please follow Glu via Twitter at
www.twitter.com/glumobile or become a Glu fan at
www.facebook.com/glumobile.
CONTRACT KILLER, COOKING DASH, DEER HUNTER, DINER DASH, DINO
HUNTER: DEADLY SHORES, ETERNITY WARRIORS, FRONTLINE COMMANDO,
RACING RIVALS, TAP SPORTS BASEBALL, TAP SPORTS FOOTBALL, SNIPER X,
GLU, GLU MOBILE, and the 'g' character logo are trademarks of Glu
Mobile Inc.
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version on businesswire.com: http://www.businesswire.com/news/home/20151210006349/en/
Investor RelationsSeth PotterICR Inc.IR@glu.com(646)
277-1230
Glu Mobile (NASDAQ:GLUU)
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