QUINCY, Mass.--(BUSINESS WIRE)--J.Jill, Inc. (NYSE:JILL) made a grant to Mark Webb on May 1, 2019 of 128,677 restricted stock units in respect of the Company’s common stock (“RSUs”). The grant of RSUs was offered as a material inducement to Mr. Webb’s hiring as Chief Financial Ofﬁcer of the Company.
The RSUs were granted outside the terms of the Company’s 2017 Omnibus Equity Incentive Plan and approved by the Company’s Board of Directors in reliance on the employment inducement exemption under the NYSE’s Listed Company Manual Rule 303A.08 which requires public announcement of inducement awards. The Company is issuing this press release pursuant to Rule 303A.08.
The RSUs shall generally vest and become exercisable in equal installments on each of the first four anniversaries of the grant date, subject to Mr. Webb’s continued employment with the Company. Additionally, the RSUs may be subject to accelerated vesting in the event of certain qualifying terminations of Mr. Webb’s employment following a change of control of the Company.
About J.Jill, Inc.
J.Jill is a premier omnichannel retailer and nationally recognized women’s apparel brand committed to delighting customers with great wear-now product. The brand represents an easy, thoughtful and inspired style that reflects the confidence of remarkable women who live life with joy, passion and purpose. J.Jill offers a guiding customer experience through more than 280 stores nationwide and a robust e-commerce platform. J.Jill is headquartered outside Boston. For more information, please visit www.jjill.com or http://investors.jjill.com. The information included on our websites is not incorporated by reference.