TMCnet News
Ciber, Inc: Ciber Reports Employment Inducement Awards(Thomson Reuters ONE Via Acquire Media NewsEdge) Ciber, Inc. 6363 S. Fiddler's Green Circle, Suite 1400 Greenwood Village, CO 80111 www.Ciber.com Ciber Reports Employment Inducement Awards GREENWOOD VILLAGE, Colo. - September 15, 2014 - Ciber®, Inc. (NYSE: CBR), a leading global information technology consulting, services and outsourcing company, today announced that it has made employment inducement awards to Michael Boustridge in connection with his appointment as Ciber's president and chief executive officer and to Tina Piermarini in connection with her appointment as Ciber's executive vice president and chief administrative officer. These inducement awards were granted by the compensation committee of Ciber's board of directors, in accordance with the terms of Mr. Boustridge's and Ms. Piermarini's respective employment agreements, which were previously disclosed. The grants are effective as of September 15, 2014, and were made in accordance with NYSE Rule 303A.08 as material inducements to Mr. Boustridge and Ms. Piermarini entering into employment with Ciber. Mr. Boustridge's inducement award consists of a stock option to purchase 815,217 shares of Ciber's common stock and 804,721 restricted stock units. The option has an exercise price equal to the closing price of Ciber's common stock on September 12, 2014, and will vest in equal monthly installments over four years, with the first installment having vested on July 31, 2014. Mr. Boustridge's restricted stock units will vest in equal quarterly installments over three years, with the first of twelve installments vesting on grant, and the subsequent installments vesting at the end of each quarter, beginning on September 30, 2014. Ms. Piermarini's inducement award consists of 150,000 restricted stock units. Ms. Piermarini's restricted stock units will vest in equal quarterly installments over three years, with the first of twelve installments vesting on grant, and the subsequent installments vesting at the end of each quarter, beginning on September 30, 2014. The vesting of the inducement awards described above is subject the recipient's continued employment through each vesting date. Each of the awards is subject to 12 months of accelerated vesting if the recipient is terminated without cause, or if the recipient leaves Ciber for good reason, and Mr. Boustridge must exercise his vested options within 18 months of the date of separation from service. In the event of a change in control of Ciber, each award will vest in full, and Mr. Boustridge must exercise his vested options within 12 months of the date of separation from service. Ciber is providing this information in compliance with Section 303A.08 of the NYSE Listed Company Manual. About Ciber, Inc. Ciber is a leading global IT consulting company with some 6,500 consultants and contractors in North America, Europe and Asia/Pacific, and approximately $1 billion of annual business. Client focused and results driven, Ciber partners with organizations to develop technology strategies and solutions that deliver tangible business value. Founded in 1974, the company trades on the New York Stock Exchange (NYSE: CBR). For more information, visit www.ciber.com. "Ciber" is a trademark of Ciber, Inc. and/or its affiliates. This announcement is distributed by GlobeNewswire on behalf of GlobeNewswire clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Ciber, Inc via GlobeNewswire [HUG#1855791] |