MobileIron Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
MOUNTAIN VIEW, Calif., Feb. 12, 2016 /PRNewswire/ -- MobileIron Inc. (NASDAQ: MOBL), today announced that the Compensation Committee of MobileIron's Board of Directors granted an inducement award to Barry Mainz in connection with his employment as MobileIron's President and Chief Executive Officer. On January 6, 2016, MobileIron announced the hiring of Mr. Mainz, with his employment beginning on that same day. On February 9, 2016, the Compensation Committee granted Mr. Mainz an option as an inducement award, granted under MobileIron's 2015 Inducement Plan, to purchase 840,000 shares of the Company's common stock, with a per share exercise price equal to $3.39, the closing price of the Common Stock on the grant date. This option will vest over four years, with 25% of the underlying shares vesting on the one year anniversary of Mr. Mainz's start date and an additional 1/48th of the underlying shares vesting monthly thereafter, subject to his continuous service through each vesting date. The Compensation Committee of MobileIron's Board of Directors granted this option on February 9, 2016 as a material inducement to Mr. Mainz's employment in accordance with NASDAQ Listing Rule 5635(c)(4).
MobileIron provides the secure foundation for companies around the world to transform into Mobile First organizations. For more information, please visit www.mobileiron.com.