TIBCO Software Grants Equity Awards Under Its Inducement Award Plan
PALO ALTO, CA -- (Marketwired) -- 07/16/13 -- TIBCO Software Inc.
(NASDAQ: TIBX) today announced that equity awards were granted to new
non-officer employees on July 15, 2013 under its Inducement Award
Plan (the "Plan"). As described below, the grants were made either
(i) to new employees of TIBCO or (ii) to newly hired employees of
TIBCO in connection with its previously announced acquisition of
StreamBase Systems, Inc. ("StreamBase"). The Plan was originally
adopted by the Board of Directors of TIBCO on April 9, 2013 in
accordance with NASDAQ Marketplace Rule 5635(c)(4).
With respect to new employees, TIBCO granted a total of 95,368 shares
of restricted stock to 89 employees under the Plan, restricted stock
units representing a total of 7,784 shares of common stock to 17
employees and a non-qualified stock option to purchase a total of
5,000 shares of its common stock to one employee under the Plan. All
of the restricted stock and the restricted stock units vest over four
years, with 50 percent of the restricted stock or restricted stock
units vesting on July 15, 2015, 25 percent of the restricted stock or
restricted stock units vesting on the one year anniversary thereof,
and the remainder of the applicable award vesting on the two year
anniversary thereof. The stock option grant was made on July 15, 2013
at an exercise price of $23.67 per share, the closing price of
TIBCO's common stock on the date of grant. The stock option has a
seven-year term and vests over four years with 25 percent of the
shares vesting on the first anniversary of the grant date and the
balance vesting monthly thereafter in 36 equal installments.
With respect to new employees hired in connection with the StreamBase
acquisition, TIBCO granted a total of 84,575 shares of restricted
stock to 35 employees under the Plan and restricted stock units
representing 2,615 shares of common stock to 5 employees under the
Plan. All of the restricted stock and restricted stock units vest
over four years, with 25 percent of the restricted stock or
restricted stock units vesting on July 15, 2014 and 25 percent of the
restricted stock or restricted stock units vesting each year
thereafter through the fourth anniversary of the grant d
TIBCO Software Inc. (NASDAQ: TIBX) is a provider of
infrastructure software for companies to use on-premise or as part of
cloud computing environments. Whether it's optimizing claims,
processing trades, cross-selling products based on real-time customer
behavior, or averting a crisis before it happens, TIBCO provides
companies the two-second advantage(R) -- the ability to capture the
right information at the right time and act on it preemptively for a
competitive advantage. More than 4,000 customers worldwide rely on
TIBCO to manage information, decisions, processes and applications in
real time. Learn more at www.tibco.com.
TIBCO, two-second advantage and TIBCO Software are trademarks or
registered trademarks of TIBCO Software Inc. in the United States
and/or other countries. All other product and company names and marks
mentioned in this document are the property of their respective
owners and are mentioned for identification purposes only.
Media Relations Contact:
TIBCO Software Inc.
Investor Relations Contact:
TIBCO Software Inc.
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