Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Rainmaker Systems Reports Inducement Grant Under NASDAQ Listing Rule

Rainmaker Systems Inc. (RMKR: Quote) announced that the Compensation Committee of Rainmaker's Board of Directors granted an inducement award to Donald Massaro in connection with his entering into employment as Rainmaker's President and Chief Executive Officer.

On December 13, 2012, Rainmaker previously announced the hiring of Massaro, with his employment beginning on December 11, 2012.

Massaro's inducement awards, granted under Rainmaker's 2012 Inducement Equity Incentive Plan adopted by Rainmaker's Board of Directors on December 21, 2012, consist of (1) a grant of 500,000 restricted shares of common stock which will vest 1/16th quarterly over a four year term, (2) an option to purchase 500,000 shares of common stock which will vest 1/16th quarterly over a four year term and (3) a grant of 250,000 restricted shares of common stock which will vest in a single installment on March 31, 2013.

The grant of 250,000 restricted shares vesting on March 31, 2013 was negotiated by Massaro as part of his initial compensation, as Massaro requested stock compensation in lieu of cash compensation for a specified period due to his confidence in Rainmaker's potential future stock price appreciation.

The Compensation Committee of Rainmaker's Board of Directors granted the awards on December 27, 2012 as inducements material to Massaro entering into employment with Rainmaker in accordance with NASDAQ Listing Rule 5635(c)(4).

Register
To receive FREE breaking news email alerts for Rainmaker Systems Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Kraton Performance Polymers, Inc. (KRA), Wednesday reported second-quarter net income of $11.1 million or $0.33 per share, up from $3.8 million or $0.12 per share last year. Adjusted earnings improved to $0.46 per share from $0.15 per share last year. Revenues for the quarter dropped to $323.8... Organic grocer Whole Foods Market, Inc. said Wednesday after the markets closed that its third quarter profit rose 6.3% from last year, as same-store sales increased 3.9%. The company's quarterly earnings per share also came in above analysts' expectations, but its quarterly sales fell shy of analyst' forecast. Micro-blogging site Twitter Inc said Tuesday after the markets closed that its second quarter loss widened from last year, hurt mainly by stock-based compensation expense, even as revenue more than doubled thanks to growth in advertising. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.