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

Rhea-AI Summary

Stagwell Inc. granted 24,403 restricted stock units to three new employees, each representing the right to receive one share of the Company's Class A common stock. The units will vest in two installments over three years, subject to accelerated vesting under certain conditions. These awards were given as inducements to employment under Nasdaq Listing Rule 5635(c)(4).

NEW YORK, May 8, 2024 /PRNewswire/ -- Stagwell Inc. (the "Company") announced today the grant of equity inducement awards. Effective May 3, 2024, the Company granted a total of 24,403 restricted stock units to three new employees. Each restricted stock unit represents the right to receive one share of the Company's Class A common stock. The restricted stock units will 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 restricted stock units 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

How many restricted stock units were granted by Stagwell Inc.?

Stagwell Inc. granted a total of 24,403 restricted stock units.

What do the restricted stock units represent?

Each restricted stock unit represents the right to receive one share of the Company's Class A common stock.

When will the restricted stock units vest?

The units will 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.

Under what conditions will the restricted stock units have accelerated vesting?

The restricted stock units are subject to accelerated vesting upon termination of employment by the Company without Cause, death, or disability.

Why were these awards granted?

The awards were granted as a material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4).