Glu Mobile Inc. (NASDAQ: GLUU), a leading developer and publisher of mobile games, today announced that on October 8, 2019, its Compensation Committee awarded time-vesting restricted stock unit awards covering an aggregate of 95,303 shares of Glu’s common stock to three newly hired employees, each pursuant to Glu’s 2018 Equity Inducement Plan. The restricted stock unit awards each vest with respect to 25% of the underlying shares on November 15, 2020, with the remaining 75% of the underlying shares vesting in equal quarterly installments over the next three years on the same day of each third month (e.g., the next quarterly vesting date will be February 15, 2021, then May 15, 2021, etc.).
Glu’s Compensation Committee adopted the 2018 Equity Inducement Plan, which is a non-stockholder approved plan, to facilitate the granting of equity awards as an inducement material to new employees joining Glu. Nasdaq Marketplace Rule 5635(c)(4) requires a public announcement of equity awards made under this type of plan.
About Glu Mobile
Glu Mobile (NASDAQ: GLUU) is a leading creator of mobile games. Founded in 2001, Glu is headquartered in San Francisco with additional locations in San Mateo, Toronto and Hyderabad. With a history spanning over a decade, Glu’s culture is rooted in taking smart risks and fostering creativity to deliver world-class interactive experiences for our players. Glu’s diverse portfolio features top-grossing and award-winning original and licensed IP titles including, Cooking DASH, Covet Fashion, Deer Hunter, Design Home, Diner DASH Adventures, Kim Kardashian: Hollywood and MLB Tap Sports Baseball available worldwide on various platforms including the App Store and Google Play. For more information, visit www.glu.com or follow Glu on Twitter, Facebook and Instagram.
Cooking DASH, Covet Fashion, Deer Hunter, Design Home, Diner DASH, Tap Sports, Glu and Glu Mobile are trademarks of Glu Mobile Inc.