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

Rhea-AI Summary

Stagwell Inc. (STGW) has announced the grant of equity inducement awards to six new employees, effective August 8, 2024. The company issued a total of 92,719 restricted stock units, each representing the right to receive one share of Stagwell's Class A common stock. These units will vest in two installments: one-third on the second anniversary and two-thirds on the third anniversary of the grant date. The awards are subject to accelerated vesting in cases of termination without Cause or due to death or disability. Stagwell granted these awards as a material inducement to employment in compliance with Nasdaq Listing Rule 5635(c)(4).

Positive

• Attraction of new talent through equity incentives
• Alignment of employee interests with company performance through stock-based compensation

Negative

• Potential dilution of existing shareholders' equity

News Market Reaction

-0.48%

1 alert

-0.48% News Effect

On the day this news was published, STGW declined 0.48%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

NEW YORK, Aug. 9, 2024 /PRNewswire/ -- Stagwell Inc. (the "Company") announced today the grant of equity inducement awards. Effective August 8, 2024, the Company granted a total of 92,719 restricted stock units to six 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 (NASDAQ: STGW) 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 specialists in 34+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients.  www.stagwellglobal.com.

Contact:	Beth Sidhu
	pr@stagwellglobal.com

 

 

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SOURCE Stagwell Inc.

FAQ

How many restricted stock units did Stagwell (STGW) grant on August 8, 2024?

Stagwell (STGW) granted a total of 92,719 restricted stock units on August 8, 2024.

What is the vesting schedule for Stagwell's (STGW) restricted stock units granted on August 8, 2024?

The restricted stock units will vest in two installments: one-third on the second anniversary and two-thirds on the third anniversary of the grant date.

Under what circumstances can Stagwell's (STGW) restricted stock units be subject to accelerated vesting?

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

What Nasdaq rule did Stagwell (STGW) comply with for these equity inducement grants?

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