8x8, Inc. Issues New Employee Inducement Grants

Rhea-AI Summary

8x8, Inc. (NASDAQ: EGHT) granted restricted stock units for up to 689,104 shares of common stock to 11 employees. The awards vest over periods of up to three years, subject to continued employment. The grants were approved by the independent directors of 8x8's Compensation Committee.

CAMPBELL, Calif.--(BUSINESS WIRE)-- 8x8, Inc. (NASDAQ: EGHT), a leading integrated cloud contact center and unified communications platform provider, today announced that 8x8 granted restricted stock units for up to 689,104 shares of 8x8’s common stock to 11 employees. The awards vest over periods of up to three years, subject to the recipient’s continued employment or other association with 8x8 or any of its subsidiaries. The awards were granted under 8x8’s Amended and Restated 2017 New Employee Inducement Incentive Plan and approved by the independent directors of 8x8’s Compensation Committee as material inducements to the hiring of the new employees in accordance with Nasdaq Listing Rule 5635(c)(4). These awards were given under normal company business practices with terms similar to those received by other employees.

About 8x8, Inc.

8x8, Inc. (NASDAQ: EGHT) is transforming the future of business communications as a leading Software as a Service provider of 8x8 XCaaS™ (Experience Communications as a Service™), an integrated contact center, voice communications, video, chat, and SMS solution built on one global cloud communications platform. 8x8 uniquely eliminates the silos between Unified Communications as a Service (UCaaS) and Contact Center as a Service (CCaaS) to power the communications requirements of all employees globally as they work together to deliver differentiated customer experiences. For additional information, visit www.8x8.com, or follow 8x8 on LinkedIn, X and Facebook.

8x8®, 8x8 XCaaS™, eXperience Communications as a Service™ are trademarks of 8x8, Inc.

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Media:

PR@8x8.com

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Investor.Relations@8x8.com

Source: 8x8, Inc.

FAQ

How many shares of common stock were granted to employees by 8x8, Inc.?

8x8, Inc. granted up to 689,104 shares of common stock to 11 employees.

What is the vesting period for the awarded shares?

The awards vest over periods of up to three years.

Under which plan were the awards granted?

The awards were granted under 8x8's Amended and Restated 2017 New Employee Inducement Incentive Plan.

Who approved the awards for the employees?

The awards were approved by the independent directors of 8x8's Compensation Committee.

What is the purpose of the awards?

The awards were material inducements to the hiring of new employees in accordance with Nasdaq Listing Rule 5635(c)(4).