Web.com Announces Employment Equity Awards in Connection with Acquisition of Acquisio
November 8, 2017
JACKSONVILLE, Fla., Nov. 08, 2017 (GLOBE NEWSWIRE) -- Web.com Group, Inc. (Nasdaq:WEB), a leading global provider of Internet services and online marketing solutions for small businesses, today announced that its Board of Directors has granted equity awards to non-executive employees in connection with the previously announced acquisition of the assets of Acquisio.
Web.com has granted inducement awards to 100 newly hired employees under the Web.com Group, Inc. 2017 Acquisio Inducement Award Plan. The inducement awards consist of 100,500 options and 109,000 restricted share units covering an aggregate of 209,500 shares of Web.com's common stock. The awards were granted effective November 8, 2017, and the options have a 10-year term and an exercise price equal to $21.90 per share, which was the closing price of Web.com's common stock on the date of grant. The option and restricted stock awards vest over the course of four years subject to the employee’s continued service with Web.com on each vesting date. For options, 1/48th vest monthly. For restricted share units, 25% vest annually on each anniversary of the grant date.
Web.com Group, Inc. (Nasdaq:WEB) is a global provider of a full range of Internet services to small businesses to help them compete and succeed online. Web.com meets the needs of small businesses anywhere along their lifecycle with affordable, subscription-based solutions including domains, hosting, website design and management, search engine optimization, online marketing campaigns, local sales leads, social media, mobile products and eCommerce solutions. For more information, please visit www.web.com; follow Web.com on Twitter @webdotcom or on Facebook at facebook.com/web.com.
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Source: Web.com Group, Inc.