Glu Mobile Inc. : Glu Mobile Announces New Employment Inducement Awards
Glu Mobile Announces New Employment Inducement Awards
San Francisco, Calif. - May 15, 2013 -Glu Mobile Inc. (NASDAQ: GLUU), a
leading global developer and publisher of freemium games for smartphone and
tablet devices, announced that its Compensation Committee on May 14, 2013
awarded stock options to purchase an aggregate of 372,500 shares of Glu's
common stock to nine newly hired employees pursuant to Glu's 2008 Equity
Inducement Plan, which includes a stock option to purchase 300,000 shares
awarded to Chris Akhavan, the Company's new President of Publishing. Glu
previously disclosed its intention to issue this award to Mr. Akhavan in its
April 22, 2013 press release announcing Mr. Akhavan's hiring. Each of the
stock options has a six-year term, vests on a four-year schedule (25% of the
underlying shares will vest on the first anniversary of the employee's hire
date, and 2.083% of the underlying shares will vest monthly thereafter), and
has an exercise price equal to $2.74 per share, which was the closing price of
Glu's common stock on The NASDAQ Global Market on the May 14, 2013 grant date.
In addition, in order to issue such grants, Glu's Compensation Committee on
May 14, 2013 amended the 2008 Equity Inducement Plan in order to increase the
number of shares reserved for issuance under the plan by 200,000 shares.
Glu's Compensation Committee adopted the 2008 Equity Inducement Plan, which is
a non-stockholder approved plan, to facilitate the granting of stock options
as an inducement material to new employees joining Glu. NASDAQ Marketplace
Rule 5635(c)(4) requires a public announcement of equity awards made under
this type of plan.
Glu Mobile (NASDAQ:GLUU) is a leading global developer and publisher of
freemium games for smartphone and tablet devices. Glu is focused on creating
compelling original IP games such as CONTRACT KILLER, GUN BROS, DEER HUNTER,
BLOOD & GLORY, and SAMURAI VS. ZOMBIES DEFENSE on a wide range of platforms
including iOS, Android, Windows Phone, Google Chrome, and MAC OS. Glu's unique
technology platform enables its titles to be accessible to a broad audience of
consumers globally. Founded in 2001, Glu is headquartered in San Francisco
with a major office outside Seattle, and international locations in Canada,
China, and Russia. Consumers can find high-quality entertainment wherever they
see the 'g' character logo or at www.glu.com. For live updates, please follow
Glu via Twitter at www.twitter.com/glumobile or become a Glu fan at
CONTRACT KILLER, GUN BROS, DEER HUNTER, BLOOD & GLORY, SAMURAI VS. ZOMBIES
DEFENSE, GLU, GLU MOBILE and the 'g' character logo are trademarks of Glu
Glu Mobile Inc.
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Glu Mobile Inc. via Thomson Reuters ONE
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