[April 24, 2015] |
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Millennial Media, Inc. Reports Employment Inducement Equity Grants
Millennial Media (News - Alert), Inc. (NYSE: MM) today announced that it has made
employment inducement equity awards to 14 employees. The inducement
awards consist of (i) an aggregate of 19,000 options to purchase shares
of Millennial Media common stock granted to 13 new hires, and (ii)
100,000 restricted stock units of Millennial Media common stock
specifically negotiated in connection with the hire of another
individual. The awards are being made as a material inducement to accept
employment with Millennial Media.
The new stock option awards will vest over a period of four years, with
25% of the option vesting after one year and the remainder vesting in
equal monthly installments for 36 months thereafter, subject to the
grantee's continued employment with Millennial Media on the applicable
vesting date. The new restricted stock unit award will vest over a
period of four years with 25% of the restricted stock units vesting
after one year, and the remainder vesting in equal quarterly
installments thereafter, subject to the grantee's continued employment
with Millennial Media on the applicable vesting date. The awards are
subject to the terms of the Millennial Media Inc. 2014 Equity Inducement
Plan and the individual award agreements.
Millennial Media's board of directors unanimously approved the
Millennial Media Inc. 2014 Equity Inducement Plan and the Compensation
Committee of the Millennial Media's Board of Directors subsequently
approved the awards granted thereunder. The awards are intended to
qualify as "employment inducement awards" within the meaning of Section
303A.08 of the New York Stock Exchange Listed Company Manual.
About Millennial Media
Millennial Media is the leading independent mobile marketplace, making
mobile advertising simple for the world's top brands, app developers,
and mobile web publishers. Millennial Media's unique data and technology
assets enable its advertising clients to connect with their target
audiences at scale. Millennial Media also drives monetization for its
publisher and developer partners by connecting them to networks,
advertisers, and a real-time-bidding, or RTB, exchange. For more
information, visit www.millennialmedia.com.
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