Synchronoss Technologies : Reports Inducement Grants to Employees Under Nasdaq Listing Rule 5635(c)(4)
April 11, 2018 at 09:17 am EDT
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BRIDGEWATER, N.J.--(BUSINESS WIRE)--Apr. 11, 2018-- Synchronoss Technologies, Inc. (SNCR) (the 'Company' or 'Synchronoss'), a global leader and innovator in cloud, messaging, and digital products, today announced that the Company issued restricted stock and stock option awards to seventeen 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 outside the Company's 2015 New Hire Equity Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4).
Synchronoss granted the seventeen newly hired employees an aggregate of 39,450 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. In addition, the employees received an aggregate of 11,650 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 completes each additional month of continuous service thereafter.
About Synchronoss
Synchronoss transforms the way companies create new revenue, reduce costs and delight their subscribers with cloud, messaging and digital 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 www.synchronoss.com.
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Source: Synchronoss Technologies, Inc.
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Synchronoss Technologies Inc. published this content on 11 April 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 11 April 2018 13:16:05 UTC
Synchronoss Technologies, Inc. is a provider of white label cloud, messaging, digital and network management solutions that enable its customers to keep subscribers, systems, networks and content in sync. The Companyâs Synchronoss Personal Cloud solution is designed to create an engaging and trusted customer experience through ongoing content management and engagement. Its Synchronoss Personal Cloud platform is a white label platform that allows its customersâ subscribers to backup and protect, engage with, and manage their personal content and gives its operator customers the ability to increase average revenue per user (ARPU) and reduce churn. The Synchronoss Personal Cloud platform is designed to support smartphones, tablets, desktops computers, and laptops. Its Advanced Messaging platform is a messaging platform that expands capabilities for communications service provider and multi-service providers to offer Person-to-Person (P2P) messaging via Rich Communications Services (RCS).
SYNCHRONOSS TECHNOLOGIES, INC. 
