Stagwell Inc. Reports Equity Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Stagwell Inc. announced equity inducement awards of 68,452 shares of restricted Class A common stock to six new employees effective November 28, 2022. Key grants include 30,000 shares to Managing Director Matthew Lochner and 10,000 shares to Chief Creative Officer Colin Jeffery. Vesting schedules vary, with elements tied to company performance objectives. This action complies with Nasdaq Listing Rule 5635(c)(4) and is intended to attract talent. The company aims to leverage creativity and technology to enhance marketing effectiveness for clients.

Positive

• Granting of 68,452 shares as equity inducement to attract talent.
• Key positions filled by experienced professionals to enhance company performance.
• Vesting tied to performance objectives may align employee interests with company success.

Negative

• None.

NEW YORK, Dec. 1, 2022 /PRNewswire/ -- Stagwell Inc. (the "Company") announced today the grant of equity inducement awards of Class A common stock. Effective November 28, 2022, the Company granted a total of 68,452 shares of restricted stock to six new employees as follows: Matthew Lochner, Managing Director, Stagwell Marketing Cloud - 30,000 shares; Colin Jeffery, Chief Creative Officer, Doner and Wolfgang – 10,000 shares; Samuel Zwickel, Chief of Staff, Stagwell Inc. – 3,770 shares; three other employees – a total of 24,682 shares granted under the Company's Equity Inducement Grant Program. The shares granted to Mr. Lochner will vest one-half on August 31, 2024 and, subject to achievement of Company performance objectives, one-half on March 31, 2025. The shares granted to Mr. Jeffery will vest on November 7, 2023. The shares granted to Mr. Zwickel will vest on November 7, 2024. The shares granted to the three other employees will vest in two installments, with one-third vesting on November 17, 2024 and two-thirds vesting on the November 17, 2025. The restricted shares are subject to accelerated vesting upon (i) termination of employment by the Company without Cause or (ii) death or disability. The Company granted these awards as a material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4).

For more information on Stagwell, please visit www.stagwellglobal.com

About Stagwell

Stagwell is the challenger network built to transform marketing. We deliver scaled creative performance for the world's most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing. Led by entrepreneurs, our 13,000+ specialists in 34+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients. Join us at www.stagwellglobal.com.

Contact:	Beth Sidhu
	Beth.Sidhu@stagwellglobal.com
	202-423-4414

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SOURCE Stagwell Inc.

FAQ

What is Stagwell Inc. involved in?

Stagwell Inc. focuses on transforming marketing through creativity and technology.

What is the total number of shares granted to new employees?

A total of 68,452 shares of restricted stock were granted to six new employees.

Under what Nasdaq rule did Stagwell grant the equity inducement awards?

The awards were granted in accordance with Nasdaq Listing Rule 5635(c)(4).

When do the shares granted to Matthew Lochner vest?

Matthew Lochner's shares will vest half on August 31, 2024, and the other half on March 31, 2025, subject to performance objectives.

What are the vesting conditions for the shares granted to the employees?

The restricted shares can vest upon termination without cause or in cases of death or disability.