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

Rhea-AI Summary

On February 27, 2023, Stagwell (NASDAQ: STGW) announced the grant of equity inducement awards consisting of 44,562 shares of restricted Class A common stock to five new employees. These shares will vest in two installments: one-third on the second anniversary and two-thirds on the third anniversary of the grant date. Accelerated vesting applies in cases of termination without cause, death, or disability. The grant aligns with Nasdaq Listing Rule 5635(c)(4), emphasizing Stagwell's commitment to rewarding talent and enhancing employee retention.

Positive

• Granting 44,562 shares of restricted stock may attract and retain top talent.
• Equity inducement aligns employee interests with company success.

Negative

• None.

NEW YORK, Feb. 27, 2023 /PRNewswire/ -- Stagwell Inc. (the "Company") (NASDAQ: STGW) announced today the grant of equity inducement awards of Class A common stock. Effective February 23, 2023, the Company granted 44,562 shares of restricted stock to five new employees. The shares granted 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 shares 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 recent equity inducement award by Stagwell (STGW)?

Stagwell announced the grant of 44,562 shares of restricted Class A common stock to five new employees, effective February 23, 2023.

When do the shares granted to Stagwell employees vest?

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

What conditions apply to the restricted shares granted by Stagwell (STGW)?

Accelerated vesting of the shares can occur upon termination without cause or in cases of death or disability.