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

Rhea-AI Summary

Stagwell Inc. (NASDAQ: STGW) announced the grant of equity inducement awards to eight new employees, totaling 70,111 restricted stock units. Each unit represents the right to receive one share of the Company's Class A common stock, vesting in two installments over a three-year period. The awards serve as a material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4).

NEW YORK, Nov. 13, 2023 /PRNewswire/ -- Stagwell Inc. (NASDAQ: STGW) (the "Company") announced today the grant of equity inducement awards. Effective November 10, 2023, the Company granted a total of 70,111 restricted stock units to eight new employees. Each restricted stock unit represents the right to receive one share of the 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

What is the purpose of the equity inducement awards granted by Stagwell Inc. (NASDAQ: STGW)?

The purpose of the equity inducement awards is to attract and retain new employees by granting them restricted stock units as a material inducement to employment.

How many restricted stock units were granted by Stagwell Inc. (NASDAQ: STGW)?

Stagwell Inc. granted a total of 70,111 restricted stock units to eight new employees.

What is the vesting schedule for the restricted stock units granted by Stagwell Inc. (NASDAQ: STGW)?

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.

Under what circumstances are the restricted stock units subject to accelerated vesting?

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