Cache, Inc. Reports Inducement Grant under NASDAQ Rule 5635(c)(4)
NEW YORK -- February 6, 2013
As previously announced, on February 5, 2013, Jay Margolis joined Cache, Inc.
(NASDAQ: CACH) as Chairman of the Board of Directors and Chief Executive
Officer. In connection with his employment by Cache, Mr. Margolis was awarded
stock options that qualify as an inducement grant pursuant to the NASDAQ
Listing Rules. The NASDAQ Listing Rules require the distribution of a press
release in connection with any inducement grant. This press release is
intended to satisfy those requirements.
In connection with his employment by Cache, Mr. Margolis was granted an option
to purchase 1,000,000 shares of Cache's common stock. The option will vest in
equal installments on the first, second and third anniversary of the grant
date, subject to accelerated vesting upon a change of control or termination
of employment without cause. Any unvested portion of the option will be
forfeited upon a termination of employment by Mr. Margolis for any reason or
due to death or disability. The vested and unvested portions of the option
will be forfeited upon a termination of employment for cause. The exercise
price of the option is $3.34 per share.
About Cache, Inc.
Cache is a nationwide, mall-based specialty retailer of sophisticated
sportswear and social occasion dresses targeting style-conscious women who
have a youthful attitude and are self-confident. The Company currently
operates 261 stores, primarily situated in central locations in high traffic,
upscale malls in 42 states, the Virgin Islands and Puerto Rico.
Maggie Feeney, 212-575-3206
Executive Vice President and Chief Financial Officer
Allison Malkin, 203-682-8225
Rachel Schacter, 646-277-1243
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