FOR IMMEDIATE RELEASE
THESTREET.COM CONTRIBUTING EDITOR JAMES J. CRAMER DISPLAYS CONFIDENCE IN COMPANY, AGREES TO TAKE STOCK OPTIONS IN LIEU OF SALARY FOR 2000
NEW YORK, December 22, 1999 -
TSCM), announced today that one of its most prominent journalists and a veteran stock market commentator, contributing editor James J. Cramer, in a major vote of confidence in the company's future, has agreed to take stock options in lieu of his salary next year. He will receive options for 30,000 shares of company stock exercisable at $19 per share in lieu of his annual salary of $275,000.
Mr. Cramer, a co-founder of TheStreet.com, a member of its board of directors and a shareholder, agreed to a change in his employment agreement in order to take the stock options. The options will vest in one year.
In addition to his duties at TheStreet.com, Mr. Cramer is a manager of a Wall Street hedge fund and is a well-known and widely-quoted business journalist.
About TheStreet.com, Inc.
TheStreet.com, Inc. (Nasdaq:
TSCM) is publisher of
, a leading Web-based provider of original, timely, comprehensive and trustworthy financial news and commentary.
www.thestreet.com) was founded in 1996 and is based in New York City, with bureaus in San Francisco, Silicon Valley and London.
editorial team, with over 80 experienced financial journalists and two dozen outside contributors, publishes approximately 50 original news stories and commentaries every business day, including columns by James J. Cramer, Herb Greenberg, and Adam Lashinsky. TheStreet.com, Inc. has established strategic alliances with
The New York Times
, Fox News Network, America Online, Yahoo!, E*TRADE, DLJ
, Intuit, 3Com and other leading companies.
, a financial news site majority owned by TheStreet.com and intended for UK investors, will launch in early 2000.
Statements contained in this news release which are not related to historical facts may be deemed forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties (described in the company's SEC filings) which could cause actual results to differ.
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