SAN FRANCISCO--(BUSINESS WIRE)--Glu Mobile Inc. (NASDAQ:GLUU), a leading global developer and publisher of free-to-play mobile games, announced that on April 11, 2017, its Compensation Committee awarded the following equity awards, in the aggregate, to 11 newly hired employees: (1) restricted stock units covering an aggregate of 161,600 shares of Glu’s common stock and (2) stock option awards to purchase an aggregate of 227,400 shares of Glu’s common stock, each pursuant to Glu’s 2008 Equity Inducement Plan.
Each of the restricted stock unit awards vests on a four-year schedule – 25% of the underlying shares will vest on May 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 August 15, 2018, then November 15, 2018, etc.). The stock options have ten-year terms, vest on a four-year schedule (25% of the underlying shares will vest on the first anniversary of the applicable employee’s start date with Glu, and 2.083% of the underlying shares will vest monthly thereafter), and have a per share exercise price equal to $2.29, which was the closing price of Glu’s common stock on the NASDAQ Global Market on the April 11, 2017 grant date.
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, RACING RIVALS, and TAP SPORTS BASEBALL, and branded IP games including GORDON RAMSAY DASH, KENDALL & KYLIE, 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 California in Burlingame, San Mateo and Long Beach, and international locations in Canada, China, India, Japan, and Russia. Consumers can find high-quality entertainment wherever they see the ‘g’ character logo or at www.glu.com.
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 Mobile Inc.