SAN ANTONIO, Nov. 15, 2017 (GLOBE NEWSWIRE) -- Harte Hanks (NYSE:HHS), a leader in developing customer relationships, experiences and interaction-led marketing, today announced additional details of its previously announced employment inducement awards granted to Mr. Jon C. Biro in connection with his appointment as its new Executive Vice President & Chief Financial Officer. Harte Hanks’ independent directors approved the employment inducement awards (the “Inducement Awards”) as a material inducement to Mr. Biro to accept his offer of employment, in reliance on the employment inducement award exemption to New York Stock Exchange Listing Rule 303A.08.
The Inducement Awards were denominated in dollar amounts when awarded, and the number of shares underlying each award has now been determined as follows: Mr. Biro received (i) a non-qualified stock option award for 338,552 shares with an exercise price equal to the closing market price per share of Harte Hanks’ common stock on the date of grant, which option shall vest in four equal installments on the first four anniversaries of the date of grant and expire on the tenth anniversary of the date of grant; (ii) an award of 240,000 restricted stock units, which units vest in three equal installments on the first three anniversaries of the date of grant, and (iii) 180,000 performance stock units, which units vest on (and are subject to) the same conditions, allocations and performance criteria as the annual performance stock unit awards made to the Company’s other executive officers for 2017. The Inducement Awards are subject to vesting acceleration upon certain transactions involving the Company.
About Harte Hanks:
Harte Hanks is a global marketing services firm specializing in multi-channel marketing solutions that connect our clients with their customers in powerful ways. Experts in defining, executing and optimizing the customer journey, Harte Hanks offers end-to-end marketing services including consulting, strategic assessment, data, analytics, digital, social, mobile, print, direct mail and contact center. From visionary thinking to tactical execution, Harte Hanks delivers smarter customer interactions for some of the world's leading brands. Harte Hanks’ 5,000+ employees are located in North America, Asia-Pacific and Europe. For more information, visit Harte Hanks at www.hartehanks.com, call 800-456-9748, email us at firstname.lastname@example.org. Follow us on Twitter @hartehanks or Facebook at https://www.facebook.com/HarteHanks.
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Source: Harte Hanks, Inc.