Business
Grant of Restricted Stock Units
Grant of Restricted Stock Units.
About this update from Boku, Inc.
[{"type":"text","content":"\n \nRNS Number : 7724Z Boku Inc 05 September 2018 \n\n5 September 2018\nBoku, Inc.\n(\"Boku\" or the \"Company\" and, together with its subsidiaries, the \"Group\")\n \nGrant of Performance-based Restricted Stock Units and Restricted Stock Units\n \nThe Company announces that after the close of trading on 4 September 2018 (the \"Grant Date\") it granted 1,766,400 performance-based restricted stock units (\"PRSUs\") and 2,569,889 restricted stock units (\"RSUs\") over common shares of $0.0001 each in the Company (\"Common Shares\") to executive directors, executives, employees and non-executive directors, under the Company's 2017 Equity Incentive Plan.\nIn its 2017 Annual Report, Boku stated that the Company's Remuneration Committee sees long term incentives as an important part of the remuneration of executives, to align them with shareholders and reward them for strong performance, and that it intended to make awards to executives during the first half of 2018, and on an annual basis thereafter. \n \nPRSUs were granted to executive directors and executives of the Company as set out in the table below:\n\n\n\nName\n\n\nRole\n\n\nPRSUs\n\n\n\n\nJon Prideaux\n\n\nChief Executive Officer\n\n\n350,000\n\n\n\n\nStuart Neal\n\n\nChief Financial Officer\n\n\n400,000\n\n\n\n\nAdam Lee\n\n\nChief Revenue Officer\n\n\n260,000\n\n\n\n\nMike Cahill\n\n\nChief Operating Officer\n\n\n300,000\n\n\n\n\nTotal:\n\n\n1,310,000\n\n\n\n \nThe PRSUs granted to the executives and executive directors will vest over Common Shares three years from the award date subject to the meeting of an adjusted EBITDA per share performance target for the year ending 31 December 2020. The PRSUs will expire five years from the Grant Date.\nA further 456,400 PRSUs and 2,441,566 RSUs will also be granted to other employees across the Group. The PRSUs are subject to similar performance conditions and vesting date as the awards to executives. One third of the RSUs will vest on the first trading day in April 2019 with the balance vesting over the following two years. \nBoku will also grant RSUs to the non-executive directors of the Company to support retention and align the interests of these directors with those of the Company's shareholders. Richard Hargreaves, Keith Butcher and Mark Britto have been granted 38,462, 38,462 and 51,399 ...