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

Rhea-AI Summary

On April 1, 2022, Stagwell (NASDAQ: STGW) announced the grant of equity inducement awards to three new employees. Josh Braithwaite received 19,206 restricted shares, Nick Fuller was allocated 10,000 shares, and Jennifer Chelstad received 3,201 shares. These awards are effective as of March 31, 2022, and will vest over two installments, with one-third vesting on the second anniversary. The awards are granted as a material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4).

Positive

• Equity inducement awards may attract talented professionals.
• The vesting schedule aligns employee performance with company growth.

Negative

• None.

NEW YORK, April 1, 2022 /PRNewswire/ -- Stagwell Inc. (NASDAQ: STGW) (the "Company") announced today the grant of equity inducement awards of Class A common stock to three new employees in connection with their joining the Company. The Company granted 19,206 restricted shares to Josh Braithwaite, Chief Creative Officer at Crispin Porter + Bogusky, 10,000 shares to Nick Fuller, Managing Partner, Digital Innovation at Stagwell Global, and 3,201 shares to Jennifer Chelstad, General Manager, Seattle at Allison & Partners. The grants are effective March 31, 2022, and will each vest in two installments, with one-third vesting on the second anniversary of the grant date and two-thirds vesting on the third anniversary of the grant date. 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 10,000+ 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 are the equity inducement awards announced by Stagwell on April 1, 2022?

Stagwell announced equity inducement awards totaling 32,407 restricted shares to three new employees on April 1, 2022.

Who received equity inducement awards from Stagwell on April 1, 2022?

Josh Braithwaite received 19,206 shares, Nick Fuller got 10,000 shares, and Jennifer Chelstad was granted 3,201 shares.

When do the equity inducement awards for Stagwell employees vest?

The equity inducement awards will vest in two installments: one-third on the second anniversary and two-thirds on the third anniversary of the grant date.

Under what rule did Stagwell grant equity inducement awards?

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

What is the purpose of the equity inducement awards at Stagwell?

The awards serve as a material inducement to employment, aimed at attracting and retaining top talent.