Millennial Media, Inc. Reports Employment Inducement Equity Grants

BALTIMORE--()--Millennial Media, Inc. (NYSE: MM) today announced that it has made employment inducement equity awards to 6 employees. The inducement awards consist of (i) an aggregate of 16,000 options to purchase shares of Millennial Media common stock granted to 5 new hires, (ii) 50,000 restricted stock units of Millennial Media common stock specifically negotiated in connection with the hire of another individual and (iii) 350,000 restricted stock units of Millennial Media common stock specifically negotiated in connection with the hire of another individual. The awards are being made as a material inducement to accept employment with Millennial Media.

The new stock option awards will vest over a period of four years, with 25% of the option vesting after one year and the remainder vesting in equal monthly installments for 36 months thereafter, subject to the grantee’s continued employment with Millennial Media on the applicable vesting date. The new restricted stock unit award for 50,000 units will vest over a period of four years, with 25% of the restricted stock units vesting after one year, and the remainder vesting in equal quarterly installments thereafter, subject to the grantee’s continued employment with Millennial Media on the applicable vesting date. The new restricted stock unit award for 350,000 units will vest over a period of three years, with 33% of the restricted stock vesting on December 4, 2014, and the remainder vesting in equal quarterly installments over the next two years, subject to grantee’s continued employment with Millennial Media on the applicable vesting date. The awards are subject to the terms of the Millennial Media Inc. 2014 Equity Inducement Plan and the individual award agreements.

Millennial Media’s board of directors unanimously approved the Millennial Media Inc. 2014 Equity Inducement Plan and the Compensation Committee of the Millennial Media’s Board of Directors subsequently approved the awards granted thereunder. The awards are intended to qualify as “employment inducement awards” within the meaning of Section 303A.08 of the New York Stock Exchange Listed Company Manual.

About Millennial Media

Millennial Media is the leading independent mobile marketplace, making mobile advertising simple for the world’s top brands, app developers, and mobile web publishers. Millennial Media's unique data and technology assets enable its advertising clients to connect with their target audiences at scale. Millennial Media also drives monetization for its publisher and developer partners by connecting them to networks, advertisers, and a real-time-bidding, or RTB, exchange. For more information, visit www.millennialmedia.com.

Contacts

Millennial Media, Inc.
Investor Relations Contact
Joe Wilkinson, 443-681-6238
IR@millennialmedia.com
or
Press Contact
Christina Feeney, 617-301-4181
press@millennialmedia.com

Release Summary

Millennial Media, Inc. (NYSE: MM) today announced that it has made employment inducement equity awards to 6 employees.

Contacts

Millennial Media, Inc.
Investor Relations Contact
Joe Wilkinson, 443-681-6238
IR@millennialmedia.com
or
Press Contact
Christina Feeney, 617-301-4181
press@millennialmedia.com