In connection with the acquisition, On Assignment granted Ms. Golledge a restricted stock unit award covering 15,000 shares of On Assignment’s common stock, and other members of the management team received an aggregate of 35,000 restricted stock units. The restricted stock unit awards will vest, subject to continued service, with respect to 50% of the units on the second anniversary of the grant date, and with respect to the remaining units, over the following two years in substantially equal quarterly installments. The restricted stock unit award for Ms. Golledge will be granted as an employment inducement award pursuant to the NYSE rules.
“We believe all business lines will benefit from the new cross-selling opportunities,” Dameris said. “We are excited to welcome the talented team at CyberCoders to the On Assignment family.”
About On Assignment
On Assignment, Inc. (NYSE: ASGN), is a leading global provider of in-demand, skilled professionals in the growing technology, healthcare and life sciences sectors, where quality people are the key to success. The Company goes beyond matching résumés with job descriptions to match people they know into positions they understand for temporary, contract-to-hire, and direct hire assignments. Clients recognize On Assignment for their quality candidates, quick response, and successful assignments. Professionals think of On Assignment as career-building partners with the depth and breadth of experience to help them reach their goals.On Assignment was founded in 1985 and went public in 1992. The Company, which is headquartered in Calabasas, California, operates through a network of approximately 130 branch offices throughout the United States, Canada, United Kingdom, the Netherlands, Ireland and Belgium. Additionally, physician placements are made in Australia and New Zealand. To learn more, visit http://www.onassignment.com . About CyberCoders Founded in 1999, CyberCoders believes in the passionate pursuit of the right candidate for the right job and recruits professionals for all types of jobs including engineering, technology, sales, executive, financial, accounting, scientific, legal and operational positions across all industries. For more information, visit www.CyberCoders.com. Reasons for Presentation of Non-GAAP Financial Measures Statements in this release include non-GAAP financial measures. Such information is provided as additional information, not as an alternative to our consolidated financial statements presented in accordance with GAAP, and is intended to enhance an overall understanding of our current financial performance. Such measures also are used to determine a portion of the compensation for some of our executives and employees. We believe the non-GAAP financial measures provide useful information to management, investors and prospective investors by excluding certain charges and other amounts that we believe are not indicative of our core operating results. These non-GAAP measures are included to provide management, our investors and prospective investors with an alternative method for assessing our operating results in a manner that is focused on the performance of our ongoing operations and to provide a more consistent basis for comparison between quarters. One of the non-GAAP financial measures presented is EBITDA (earnings before interest, taxes, depreciation, and amortization of identifiable intangible assets), other terms include Adjusted EBITDA (EBITDA plus equity-based compensation expense, impairment charges, write-off of loan fees, acquisition-related expenses and strategic planning costs) and Non-GAAP Income from Continuing Operations (Income from continuing operations, plus acquisition-related expenses, deferred financing fees written-off and strategic planning costs, net of tax) and Adjusted Income from Continuing Operations and related per share amounts. These terms might not be calculated in the same manner as, and thus might not be comparable to, similarly titled measures reported by other companies. The financial statement tables that accompany this press release include reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure.