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

Rhea-AI Summary

Stagwell Inc. announced equity inducement awards of 27,974 shares of Class A common stock to three new employees, effective August 17, 2022. The shares will vest in two installments: one-third on the second anniversary and two-thirds on the third anniversary of the grant date. This action is in compliance with Nasdaq Listing Rule 5635(c)(4), aimed at facilitating employee recruitment by providing meaningful equity incentives.

Positive

• Grant of 27,974 shares of Class A common stock to new employees, enhancing recruitment efforts.

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• None.

NEW YORK, Aug. 19, 2022 /PRNewswire/ -- Stagwell Inc. (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 a total of 27,974 shares of restricted stock. The grants are effective August 17, 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 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 did Stagwell announce on August 19, 2022?

Stagwell announced the grant of 27,974 equity inducement awards of Class A common stock to three new employees.

How will Stagwell's equity inducement awards 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.

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

The awards are intended as a material inducement for employment, as per Nasdaq Listing Rule 5635(c)(4).

How many shares were granted to new employees at Stagwell?

A total of 27,974 shares of restricted stock were granted to three new employees.

When are the equity inducement awards effective at Stagwell?

The grants are effective as of August 17, 2022.