NEW YORK, Aug. 16, 2013 /PRNewswire/ -- TheStreet, Inc. (NASDAQ: TST), a leading digital financial media company, today announced that on July 6, 2013, the Compensation Committee of TheStreet's Board of Directors approved an equity award as an inducement material to Herb Greenberg's acceptance of employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4).
In connection with his hiring, which TheStreet previously announced on August 15, 2013, Mr. Greenberg received an option to purchase 200,000 shares of the Company's common stock, with an exercise price of $2.21 per share which is equal to the closing price of the Company's Common Stock on August 16, 2013, Mr. Greenberg's start date. The option has a five year term and vests over a period of four years, with 25% vesting after one year of the grant date and the remaining 75% vesting in approximately equal monthly increments over the succeeding thirty-six months, provided his continuous employment through each vesting date, and subject to acceleration or forfeiture upon the occurrence of certain events as set forth in his option agreement.
About TheStreetTheStreet, Inc. is the leading independent digital financial media company providing business and financial news, investing ideas and analysis to personal and institutional investors worldwide. The Company's portfolio of business and personal finance brands includes: TheStreet, RealMoney, RealMoney Pro, Stockpickr, Action Alerts PLUS, Options Profits, MainStreet and RateWatch. To learn more, visit www.thestreet.com. The Deal, the Company's institutional business, provides intraday coverage of mergers and acquisitions and all other changes in corporate control. To learn more, visit www.thedeal.com. For information regarding TheStreet, Inc. and its subsidiaries, visit www.t.st.Contacts: Elisabeth DeMarseChairman, Chief Executive Officer and PresidentTheStreet, Inc.212-321-5234 email@example.com Erica MannionInvestor RelationsSapphire Investor Relations, LLC415-471-2700 firstname.lastname@example.org SOURCE TheStreet, Inc.