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

Rhea-AI Summary

Stagwell announced the grant of 31,257 shares of restricted Class A common stock as equity inducement awards to two new employees, effective June 3, 2022. The awards will vest in two installments, with one-third vesting on the second anniversary of the grant date and two-thirds on the third anniversary. This initiative aligns with Nasdaq Listing Rule 5635(c)(4) aimed at attracting talent to the company.

Positive

• Grant of 31,257 shares of restricted stock to attract new talent.
• Compliance with Nasdaq Listing Rule 5635(c)(4) enhances company position.

Negative

• None.

NEW YORK, June 9, 2022 /PRNewswire/ -- Stagwell Inc. (the "Company") announced today the grant of equity inducement awards of Class A common stock to two new employees in connection with their joining the Company. The Company granted a total of 31,257 shares of restricted stock. The grants are effective June 3, 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 is the significance of Stagwell's equity inducement awards?

Stagwell's equity inducement awards aim to attract and retain talent by offering new employees stock options as part of their compensation.

When do the equity inducement grants at Stagwell vest?

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

How many shares of stock did Stagwell grant as inducement awards?

Stagwell granted a total of 31,257 shares of restricted Class A common stock.

What rule governs Stagwell's equity inducement awards?

The equity inducement awards are governed by Nasdaq Listing Rule 5635(c)(4).

What date were the equity inducement awards effective at Stagwell?

The equity inducement awards were effective as of June 3, 2022.