Monotype Imaging Holdings Inc. (Nasdaq: TYPE), a leading provider of typefaces, technology and expertise for creative applications and consumer devices, today announced that in association with its Oct. 29, 2012 acquisition of Design By Front Limited, and in compliance with Nasdaq Marketplace Rule 5635(c), Monotype has granted equity awards as inducement awards to employees of Design by Front who are now joining Monotype.
Monotype granted an aggregate of 35,475 shares of restricted stock as inducement awards to 13 employees of Design by Front, including 10,000 shares each to Paul McKeever and Jamie Neely. The shares were issued to each Design by Front employee on Nov. 1, 2012, with no payment by such individual for the shares.
The shares granted to McKeever and Neely vest as follows: 50 percent on the third anniversary of the grant date and the remaining 50 percent on the fourth anniversary of the grant date. The shares granted to the other 11 employees vest as follows: 25 percent on the first anniversary date of the grant date and the remaining shares vesting in equal quarterly installments over the following three years, with all such shares fully vested by the fourth anniversary of the grant date. All shares granted in connection with the acquisition require that the respective recipient continue to be an employee of Monotype through each applicable vesting date and are subject to possible accelerated vesting under certain circumstances.
About Monotype ImagingMonotype Imaging is a leading global provider of typefaces, technology and expertise that enable the best user experience and ensure brand integrity. Based in Woburn, Mass., Monotype provides customers worldwide with typeface solutions for a broad range of creative applications and consumer devices. The company’s library and e-commerce sites are home to many of the most widely used typefaces – including the Helvetica®, Frutiger® and Univers® families – as well as the next generation of type designs. Further information is available 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. 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. Univers is a trademark of Linotype GmbH registered in the U.S. Patent and Trademark Office 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.