TheStreet, Inc. TST, a
leading digital financial media company, today announced that the Compensation
Committee of TheStreet's Board of Directors approved an inducement award to
John C. Ferrara in connection with his appointment as TheStreet's Chief
Financial Officer.
On February 16, 2013, TheStreet previously announced the hiring of Mr.
Ferrara, and on January 24, 2013, the Compensation Committee approved an
equity award as an inducement material to Mr. Ferrara's acceptance of
employment with the Company in accordance with NASDAQ Listing Rule
5635(c)(4). In connection with his appointment today, Mr. Ferrara received an
option to purchase 325,000 shares of the Company's common stock, with an
exercise price of $1.86 per share which is equal to today's closing price of
the Company's Common Stock. The option has a seven year term and vests over a
period of four years, with 25% vesting after one year of the grant date and
the remaining 75% vesting in approximately equal monthly increments over the
succeeding thirty-six months, provided his continuous employment through each
vesting date, and subject to acceleration or forfeiture upon the occurrence of
certain events as set forth in his option agreement.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: NewsManagement
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in