[January 25, 2010] Leap announces inducement awards grant to employees Tweet Jan 25, 2010 (M2 EQUITYBITES via COMTEX) -- Provider of wireless communications services Leap Wireless International Inc (Nasdaq:LEAP), declared on Friday that it has issued inducement awards to two new non-executive employees. The awards were made on 14 January 2010 under Leap's 2009 Employment Inducement Equity Incentive Plan, which provides for the granting of equity awards to new employees of Cricket Communications Inc, as an inducement to join the company. Since the plan was adopted without stockholder approval, the rules of Nasdaq require that Leap publicly announces awards made under the plan. The inducement awards consist of an aggregate of 2,900 shares of restricted stock and options to purchase up to an aggregate of 7,500 shares of Leap common stock. The options have a 10 year term and an exercise price equal to the fair market value of Leap common stock on the date of grant. The awards vest in four years, with the shares of restricted stock vesting in 25% equal increments on the second and third anniversaries of the date of grant and 50% on the fourth anniversary of the date of grant, with the options vesting in equal 25% annual increments. Comments on this story may be sent to [email protected] [ Back To TMCnet.com's Homepage ]