8x8, Inc. Issues New Employee Inducement Grants

Rhea-AI Summary

8x8, Inc. (NYSE: EGHT) has announced the issuance of inducement grants in the form of restricted stock units for up to 1,288,685 shares to 204 employees, linked to its acquisition of Fuze, Inc. These awards aim to incentivize new hires and will vest over three years, contingent on employment status. The plan received approval from independent directors in compliance with NYSE regulations and is part of 8x8's strategy to enhance its integrated cloud communications platform.

Positive

• Issuance of 1,288,685 shares as inducement grants could strengthen workforce by attracting talent from Fuze.
• Stock awards vesting over three years may encourage employee retention and stability.

Negative

• High number of stock units issued could lead to potential shareholder dilution.

CAMPBELL, Calif.--(BUSINESS WIRE)-- 8x8, Inc. (NYSE: EGHT), a leading integrated cloud communications platform provider, today announced that in connection with the acquisition of Fuze, Inc., 8x8 issued inducement grants in the form of restricted stock units for up to 1,288,685 shares of 8x8’s common stock to 204 employees. The awards vest over periods of up to three years, subject to the recipient’s continuing employment or other association with 8x8 or any of its subsidiaries. The awards were approved by the independent directors of 8x8’s Compensation Committee as material inducements to the hiring of new employees from Fuze, in accordance with New York Stock Exchange Rule 303A.08 and 8x8’s Amended and Restated 2017 New Employee Inducement Incentive Plan.

About 8x8, Inc.

8x8, Inc. (NYSE: 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 API 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, Twitter and Facebook.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20220218005096/en/

Investor Relations:

Kate Patterson, 1-408-763-8175

katherine.patterson@8x8.com

Media:

John Sun, 1-408-692-7054

john.sun@8x8.com

Source: 8x8, Inc.

FAQ

What recent acquisition did 8x8, Inc. announce?

8x8, Inc. announced the acquisition of Fuze, Inc.

How many shares were issued as inducement grants by 8x8, Inc.?

8x8, Inc. issued inducement grants for up to 1,288,685 shares.

What is the purpose of the inducement grants issued by 8x8?

The inducement grants are aimed at incentivizing the hiring of new employees from Fuze, Inc.

What is the vesting period for the inducement grants at 8x8, Inc.?

The inducement grants vest over a period of up to three years.

Who approved the stock awards for 8x8, Inc. employees?

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