Citrix® Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
On March 1, 2021, Citrix Systems (NASDAQ: CTXS) granted 268,248 restricted stock units to 55 employees post the acquisition of Wrike, completed on February 26, 2021. These grants, part of the 2021 Inducement Plan, will vest over three years, contingent on employment. The Compensation Committee approved these grants as required by Nasdaq Rule 5635(c)(4). Citrix builds secure, unified digital workspace technology, enhancing workforce productivity across complex cloud environments. Forward-looking statements regarding future performance and employee retention highlight associated risks.
- Grant of 268,248 restricted stock units indicates commitment to retaining talent.
- Inducement grants aligned with the acquisition strategy, fostering employee integration.
- Dependence on retaining key talent poses risks for effective implementation post-acquisition.
- Forward-looking statements highlight uncertainties that could impact future performance.
Citrix Systems, Inc. (NASDAQ:CTXS) today announced that on March 1, 2021, Citrix granted a total of 268,248 restricted stock units to 55 employees who joined Citrix as a result of the acquisition of Wrike, which completed on February 26, 2021.
These inducement grants of restricted stock units were granted pursuant to the Citrix Systems, Inc. 2021 Inducement Plan and vest over three years, with 1/3 vesting on each of the first, second and third anniversaries of March 1, 2021, subject to continued employment or service through each applicable vesting date. The inducement grants are subject to the terms and conditions of the applicable restricted stock unit agreements and the Citrix Systems, Inc. 2021 Inducement Plan.
The inducement grants were approved by Citrix’s Compensation Committee of the Board of Directors, as required by Nasdaq Rule 5635(c)(4), and were granted as a material inducement to employment in accordance with Nasdaq Rule 5635(c)(4).
About Citrix
Citrix (NASDAQ: CTXS) builds the secure, unified digital workspace technology that helps organizations unlock human potential and deliver a consistent workspace experience wherever work needs to get done. With Citrix, users get a seamless work experience and IT has a unified platform to secure, manage, and monitor diverse technologies in complex cloud environments.
For Citrix Investors:
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements, which are not strictly historical statements, including, without limitation, statements regarding the continued service of Wrike employees and the future vesting of inducement grants constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements, including, without limitation, the ability to attract, retain and incentivize key talent; and other risks detailed in Citrix’s filings with the Securities and Exchange Commission. Citrix assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
© 2021 Citrix Systems, Inc. Citrix, the Citrix logo, and other marks appearing herein are the property of Citrix Systems, Inc. and may be registered with the U.S. Patent and Trademark Office and in other countries. All other marks are the property of their respective owners.
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