Monotype Imaging Holdings Inc. (Nasdaq: TYPE), a leading global provider of text imaging solutions, today announced that in association with its March 19, 2012 acquisition of the font business of Bitstream Inc., and in compliance with Nasdaq Marketplace Rule 5635(c), Monotype Imaging has granted equity awards as inducement awards to employees of Bitstream who are now joining Monotype Imaging.
Monotype Imaging granted an aggregate of 15,648 shares of restricted stock and 44,273 non-qualified stock options as inducement awards to 13 Bitstream employees. The awards were issued on March 20, 2012, with an exercise price of the stock options equal to the closing market price on the Nasdaq Global Select Market on March 20, 2012. The shares of restricted stock were issued to each individual with no payment by such individual for the shares.
All equity awards described above vest as follows: 25 percent on the first anniversary date of the acquisition and the remaining shares vesting in equal quarterly installments over the following three years, with all shares fully vested by the fourth anniversary of the acquisition. All equity awards granted in connection with the acquisition require that the respective recipient continue to be an employee of Monotype Imaging through each applicable vesting date and are subject to possible accelerated vesting under certain circumstances. The stock options have a term of 10 years.
About Monotype ImagingMonotype Imaging combines technology with design to help the world communicate. Based in Woburn, Mass. with offices in the U.S., Europe and Asia, Monotype Imaging brings text imaging and graphical user interface capabilities to consumer electronics devices such as laser printers, copiers, mobile phones, e-book readers, tablets, automotive displays, digital cameras, navigation devices, digital televisions, set-top boxes and consumer appliances. The company also provides printer drivers, page description language interpreters, printer user interface technology and color imaging solutions to printer manufacturers and OEMs (original equipment manufacturers). Monotype Imaging technologies are combined with access to more than 15,000 typefaces from the Monotype®, Linotype® and ITC® typeface libraries – home to some of the world's most widely used designs, including the Times New Roman®, Helvetica®, Frutiger® and ITC Franklin Gothic™ typefaces. Fonts are licensed to creative, business and Web professionals through e-commerce portals, direct and indirect sales and custom design services. Monotype Imaging offers industry-standard font solutions that support all of the world's major languages. Information about Monotype Imaging can be found at www.monotypeimaging.com. Monotype is a trademark of Monotype Imaging Inc. registered in the U.S. Patent and Trademark Office and may be registered in certain jurisdictions. Times New Roman is a trademark of The Monotype Corp. registered in the U.S. Patent and Trademark Office and may be registered in certain jurisdictions. Linotype is a trademark of Linotype GmbH registered in the U.S. Patent and Trademark Office and may be registered in certain jurisdictions. Helvetica and Frutiger are trademarks of Linotype Corp. registered in the U.S. Patent and Trademark Office and may be registered in certain jurisdictions in the name of Linotype Corp. or its licensee Linotype GmbH. ITC is a trademark of International Typeface Corp. registered in the U.S. Patent and Trademark Office and may be registered in certain jurisdictions. ITC Franklin Gothic is a trademark of International Typeface Corp. and may be registered in certain jurisdictions. All other trademarks are the property of their respective owners. © 2012 Monotype Imaging Holdings Inc. All rights reserved.