Thunderbird Entertainment Group Announces Grant of RSUs to Employees

Rhea-AI Summary

Thunderbird Entertainment Group has granted 121,000 Restricted Share Units (RSUs) to its employees as part of its equity incentive compensation plan. The RSUs will vest in three equal installments, rewarding employees for their contributions and encouraging future performance. The settlement of each RSU will be in cash upon vesting. This initiative aligns with the company's goal of fostering employee engagement and success. Thunderbird is well-known for producing award-winning programming across platforms.

Positive

• 121,000 RSUs granted to employees enhances employee engagement.
• RSUs vesting in installments promotes long-term performance.

Negative

• Settlement of RSUs in cash could strain company cash flow.

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Thunderbird Entertainment Group Inc. (TSXV: TBRD, OTCQX: THBRF) (Thunderbird or the Company) today announced that the Company has granted 121,000 Restricted Share Units (RSUs) to employees on Friday, November 18, 2022, under the terms of the Company’s equity incentive compensation plan. Each RSU will be settled in cash upon vesting. The RSUs will vest in three equal installments on the anniversaries from the date of grant. These grants were made to appropriately reward the previous and ongoing contributions of the recipient employees and to encourage them to continue contributing significantly to Thunderbird’s success in future.

For information on Thunderbird and to subscribe to the Company’s investor list for news updates, go to www.thunderbird.tv.

ABOUT THUNDERBIRD ENTERTAINMENT GROUP

Thunderbird Entertainment Group is a global award-winning, full-service multiplatform production, distribution and rights management company, headquartered in Vancouver, with additional offices in Los Angeles, Toronto, and Ottawa. Thunderbird creates award-winning scripted, unscripted, and animated programming for the world’s leading digital platforms, as well as Canadian and international broadcasters. Thunderbird’s vision is to produce high quality, socially responsible content that makes the world a better place. The Company develops, produces, and distributes animated, factual, and scripted content through its various content arms, including Thunderbird Kids and Family (Atomic Cartoons), Thunderbird Unscripted (Great Pacific Media), formerly known as Thunderbird Factual, and Thunderbird Scripted. Productions under the Thunderbird umbrella include The Last Kids on Earth, Molly of Denali, Highway Thru Hell and Kim’s Convenience, among others. The Company also has a team dedicated to global distribution and consumer products. Thunderbird is on Facebook, Twitter, and Instagram at @tbirdent. For more information, visit: www.thunderbird.tv.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility of the adequacy or accuracy of this release, which has been prepared by management.

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to RSUs being settled in cash upon vesting; the vesting schedule of the RSUs; the future contributions of employees; and the Company’s objectives, goals or future plans. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; those additional risks set out in the Company’s Management’s Discussion and Analysis for the three months ended September 30, 2022 and other public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221122005346/en/

Investor Relations Contacts:

Glen Akselrod, Bristol Capital

Phone: + 1 905 326 1888 ext 1

Email: glen@bristolir.com

Media Relations Contact:

Lana Castleman, Director, Marketing & Communications

Phone: 416-219-3769

Email: lcastleman@thunderbird.tv

Corporate Communications

Julia Smith, Finch Media

Email: Julia@finchmedia.net

Source: Thunderbird Entertainment Group Inc.

FAQ

What did Thunderbird Entertainment announce regarding RSUs on November 18, 2022?

Thunderbird Entertainment announced the granting of 121,000 Restricted Share Units (RSUs) to employees under its equity incentive compensation plan.

How will the RSUs granted by Thunderbird Entertainment vest?

The RSUs will vest in three equal installments on the anniversaries from the date of grant.

What is the cash settlement policy for the RSUs at Thunderbird?

Each RSU granted by Thunderbird Entertainment will be settled in cash upon vesting.

How does the RSU grant impact Thunderbird's employee retention?

The RSU grants are designed to reward employee contributions and encourage continued performance, potentially aiding in employee retention.