Glu MobileGlu Mobile (NASDAQ:GLUU) is a leading global developer and publisher of free-to-play mobile games. Glu is focused on creating compelling original IP games such as CONTRACT KILLER, COOKING DASH, COVET FASHION, DEER HUNTER, DESIGN HOME, QUIZUP and RACING RIVALS, and branded IP games including RESTAURANT DASH WITH GORDON RAMSAY, KENDALL & KYLIE, MLB TAP SPORTS BASEBALL 2017 and KIM KARDASHIAN: HOLLYWOOD on the App Store, Google Play and Amazon Appstore. Founded in 2001, Glu is headquartered in San Francisco with U.S. offices in Burlingame and San Mateo, and international locations in Canada, India, Japan, and Russia. Consumers can find high-quality entertainment wherever they see the 'g' character logo or at www.glu.com. For live updates, please follow Glu via Twitter at www.twitter.com/glumobile and on Instagram at www.instagram.com/glumobile, or become a Glu fan at www.facebook.com/glumobile. CONTRACT KILLER, COOKING DASH, COVET FASHION, DEER HUNTER, QUIZUP, RACING RIVALS, TAP SPORTS, GLU, GLU MOBILE, and the 'g' character logo are trademarks of Glu Mobile Inc.
Glu Mobile Inc. (NASDAQ:GLUU), a leading global developer and publisher of free-to-play mobile games, announced that on November 14, 2017, its Compensation Committee awarded the following equity awards, in the aggregate, to five newly hired employees: (1) restricted stock units (RSUs) covering an aggregate of 7,520 shares of Glu's common stock, (2) time vesting stock option awards to purchase an aggregate of 247,316 shares of Glu's common stock and (3) performance-based stock option awards (PSOs) to purchase an aggregate of 75,606 shares of Glu's common stock, each pursuant to Glu's 2008 Equity Inducement Plan. The RSUs vest on a four-year schedule - 25% of the underlying shares will vest on November 15, 2018, with the remaining 75% of the underlying shares vesting in equal quarterly installments over the next three years on the same day of each third month (e.g., the next quarterly vesting date will be February 15, 2019, then May 15, 2019, etc.). The time vesting stock options have ten-year terms, vest on a four-year schedule (25% of the underlying shares will vest on November 14, 2018 and 2.083% of the underlying shares will vest monthly thereafter), and have a per share exercise price equal to $3.97, which was the closing price of Glu's common stock on the NASDAQ Global Market on the November 14, 2017 grant date. The PSOs also have ten-year terms and a per share exercise price equal to $3.97, but the PSOs vest only to the extent that Glu achieves certain Adjusted EBITDA and bookings goals during 2018, as discussed in further detail in the Current Report on Form 8-K that Glu filed with the Securities and Exchange Commission on October 11, 2017. Glu's Compensation Committee adopted the 2008 Equity Inducement Plan, which is a non-stockholder approved plan, to facilitate the granting of equity awards as an inducement material to new employees joining Glu. NASDAQ Marketplace Rule 5635(c)(4) requires a public announcement of equity awards made under this type of plan.