logo
Share SHARE
FONT-SIZE Plus   Neg

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).

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Internet giant Google Inc. (GOOGL, GOOG) has launched a new online flight search tool that makes it easy to find out the best flight deal. The tool dubbed "Google Flights" provides a calendar that one can scroll through and see the lowest fare highlighted for each day. One can also use the lowest... Hyperloop Transportation Technologies, a start-up that has adopted Elon Musk's ambitious project of high-speed transportation system, plans to build a Hyperloop test track in California and completed as early as 2016. Hyperloop Test Technologies, a crowd-funded company, plans to take Musk's dream... Colors have set the social media afire after an otherwise innocuous photo of a bodycon dress kept users guessing as to what hues permeate it. Opinions are divided, with some seeing the dress as white and gold, and others as blue and black. The photo was posted on Tumblr by a user called Swiked.
comments powered by Disqus
Follow RTT