SAN FRANCISCO - (BUSINESS WIRE) –Glu Mobile Inc. (NASDAQ: GLUU), a leading developer and publisher of mobile games, announced today on May 14, 2019, its Compensation Committee four new hired employees: (1) time-vested stock options awards to purchase an aggregate of 105,361 shares of common stock, (2) time-vested restricted stock unit awards performance-based restricted stock unit awards covering an aggregate of 13,500 shares of Glu's common stock, each pursuant to Glu's 3 Equity Inducement Plan.
The time-vesting stock options have a four-year schedule (25% of the underlying shares will vest on May 14, 2020 and 2.083% of the underlying shares will vest monthly thereafter) and have a per share price on the Nasdaq Global Select Market on the May 8.63, 14 grant date. Time-vesting restricted stock shares with vestment in 2019, with the remaining 25, with the remaining 15% of the underlying shares vesting in equal quarterly installments over the next three years month (eg, the next quarterly date will be August 2020, 75, then November 15, 2020, etc.). EBITDA and bookings goals during 15, with earned earnings performance based on restricted stock units , 2020.
Glu's Compensation Committee adopted the 2018 Equity Inducement Plan, which is a non-stockholder approved plan, joining Glu as an inducement to new employees. Nasdaq Marketplace Rule 5635 (c) (4) requires a public announcement of equity awards made under this type of plan.
About Glu Mobile
Glu Mobile (NASDAQ: GLUU) is a leading creator of mobile games. Founded in 2001, Glu is headquartered in San Francisco with additional locations in San Mateo, Toronto and Hyderabad. With a history spanning over a decade, our cultures are rooted in taking smart risks and fostering creativity to deliver world-class interactive experiences for our players. Glu's different portfolio features top-grossing and award-winning original and licensed IP titles including, Cooking DASH, Covet Fashion, Deer Hunter, Design Home, MLB Tap Sports Baseball and Kim Kardashian: Hollywood available on various platforms including the App Store and Google Play. For more information, visit www.glu.com or follow Glu on Twitter, Facebook and Instagram.
Cooking DASH, Covet Fashion, Deer Hunter, Design Home, Tap Sports, Glu and Glu Mobile are trademarks of Glu Mobile Inc.
Bob Jones / Taylor Krafchik