Market Overview

Synchronoss Technologies, Inc. Reports Inducement Grants to Employees Under Nasdaq Listing Rule 5635(c)(4)


Synchronoss Technologies, Inc. (SNCR)
(the "Company" or "Synchronoss"), a global leader and innovator in
cloud, messaging, digital, and IoT products and platforms, today
announced that the Company issued restricted stock and stock option
awards to forty-two newly hired employees. Each of these grants was an
inducement award that was approved by the Compensation Committee of
Synchronoss' Board of Directors, and granted as an inducement equity
award under the Company's 2017 New Hire Equity Incentive Plan in
accordance with Nasdaq Listing Rule 5635(c)(4).

Synchronoss granted the forty-two newly hired employees an aggregate of
250,657 time-based restricted stock awards. The shares of restricted
stock will vest 25% when the employee completes 12 months of continuous
service and 1/16th when the employee completes each
additional 3 months of continuous service thereafter. One newly hired
employee received a different vesting schedule with 1/3rd of
the shares vesting in three installments on July 6, 2019, July 6, 2020
and July 6, 2021. In addition, the employees received an aggregate of
151,699 time-based stock option awards. The Stock Options will vest 25%
when the employee completes 12 months of continuous service and 1/48th
when the employees complete each additional month of continuous service

In addition, Synchronoss granted 27 newly hired employees from the
honeybee acquisition an aggregate of 95,002 time-based restricted stock
awards as retention awards. The shares of restricted stock will vest 50%
on each of July 9, 2019 and July 9, 2020 with continuous service through
the vesting dates.

About Synchronoss

Synchronoss transforms the way companies create new revenue, reduce
costs and delight their subscribers with cloud, messaging, digital and
IoT products, supporting hundreds of millions of subscribers across the
globe. Synchronoss' secure, scalable and groundbreaking new
technologies, trusted partnerships and talented people change the way
TMT customers grow their business. For more information, visit us at

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