SAN FRANCISCO--(BUSINESS WIRE)--Nov. 15, 2017--
Glu Mobile Inc. (NASDAQ:GLUU), a leading global developer and publisher
of free-to-play mobile games, announced that on November 14, 2017, its
Compensation Committee awarded the following equity awards, in the
aggregate, to five newly hired employees: (1) restricted stock units
(RSUs) covering an aggregate of 7,520 shares of Glu’s common stock, (2)
time vesting stock option awards to purchase an aggregate of 247,316
shares of Glu’s common stock and (3) performance-based stock option
awards (PSOs) to purchase an aggregate of 75,606 shares of Glu’s common
stock, each pursuant to Glu’s 2008 Equity Inducement Plan.
The RSUs vest on a four-year schedule – 25% of the underlying shares
will vest on November 15, 2018, with the remaining 75% of the underlying
shares vesting in equal quarterly installments over the next three years
on the same day of each third month (e.g., the next quarterly vesting
date will be February 15, 2019, then May 15, 2019, etc.). The time
vesting stock options have ten-year terms, vest on a four-year schedule
(25% of the underlying shares will vest on November 14, 2018 and 2.083%
of the underlying shares will vest monthly thereafter), and have a per
share exercise price equal to $3.97, which was the closing price of
Glu’s common stock on the NASDAQ Global Market on the November 14, 2017
grant date. The PSOs also have ten-year terms and a per share exercise
price equal to $3.97, but the PSOs vest only to the extent that Glu
achieves certain Adjusted EBITDA and bookings goals during 2018, as
discussed in further detail in the Current Report on Form 8-K that Glu
filed with the Securities and Exchange Commission on October 11, 2017.
Glu’s Compensation Committee adopted the 2008 Equity Inducement Plan,
which is a non-stockholder approved plan, to facilitate the granting of
equity awards as an inducement material to new employees joining Glu.
NASDAQ Marketplace Rule 5635(c)(4) requires a public announcement of
equity awards made under this type of plan.
Glu Mobile (NASDAQ:GLUU) is a leading global developer and publisher of
free-to-play mobile games. Glu is focused on creating compelling
original IP games such as CONTRACT KILLER, COOKING DASH,
COVET FASHION, DEER HUNTER, DESIGN HOME, QUIZUP
and RACING RIVALS, and branded IP games including RESTAURANT
DASH WITH GORDON RAMSAY, KENDALL & KYLIE, MLB TAP
SPORTS BASEBALL 2017 and KIM KARDASHIAN: HOLLYWOOD on the App
Store, Google Play and Amazon Appstore. Founded in 2001, Glu is
headquartered in San Francisco with U.S. offices in Burlingame and San
Mateo, and international locations in Canada, India, Japan, and Russia.
Consumers can find high-quality entertainment wherever they see the ‘g’
character logo or at www.glu.com.
For live updates, please follow Glu via Twitter at www.twitter.com/glumobile
and on Instagram at www.instagram.com/glumobile,
or become a Glu fan at www.facebook.com/glumobile.
CONTRACT KILLER, COOKING DASH, COVET FASHION, DEER
HUNTER, QUIZUP, RACING RIVALS, TAP SPORTS, GLU,
GLU MOBILE, and the 'g' character logo are trademarks of Glu
View source version on businesswire.com: http://www.businesswire.com/news/home/20171115006415/en/
Source: Glu Mobile Inc.
JM Strategic Communications Group
Jones / Taylor Krafchik, 646-776-0886