[January 28, 2010] Leap Presents Inducement Awards to Non-Executive Employees Tweet Jan 28, 2010 (Close-Up Media via COMTEX) -- Leap Wireless International, Inc., a provider of wireless communications services, reported that it has issued inducement awards to two new non-executive employees. According to Leap, the awards were made on January 14, under Leap's 2009 Employment Inducement Equity Incentive Plan, which provides for the granting of equity awards to new employees of Cricket Communications as an inducement to join the company. Because the plan was adopted without stockholder approval, NASDAQ requires that Leap publicly announce 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 ten 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 percent equal increments on the second and third anniversaries of the date of grant and 50 percent on the fourth anniversary of the date of grant, and the options vesting in equal 25 percent annual increments. ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]