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Stagwell Inc. (STGW) Reports Equity Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
NEW YORK, Nov. 13, 2023 /PRNewswire/ — Stagwell Inc. (NASDAQ: STGW) (the “Company”) announced today the grant of equity inducement awards. Effective November 10, 2023, the Company granted a total of 70,111 restricted stock units to eight new employees. Each restricted stock unit represents the right to receive one share of the Company’s Class A common stock. The restricted stock units will vest in two installments, with one-third vesting on the second anniversary of the grant date and two-thirds vesting on the third anniversary of the grant date. The restricted stock units are subject to accelerated vesting upon (i) termination of employment by the Company without Cause or (ii) death or disability. The Company granted these awards as a material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4).
For more information on Stagwell, please visit www.stagwellglobal.com
Stagwell is the challenger network built to transform marketing. We deliver scaled creative performance for the world’s most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing. Led by entrepreneurs, our 13,000+ specialists in 34+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients. Join us at www.stagwellglobal.com.
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