Depomed Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
The RSUs and PSUs will be subject to Mr. Donenberg’s continued service relationship with the Company, and to the terms and conditions of the Company's 2014 Omnibus Incentive Plan and the award agreements pursuant to which they were granted. The RSUs vest equally annually over three years beginning on the anniversary of the employment commencement date. The PSUs vest in equal installments over three years with a one year cliff based on the relative total shareholder return of the Company’s common stock against the Russell 3000 Pharmaceuticals Total Return Index over the period. The number of PSUs earned may range from 0% to 200% of the target amount. Mr. Donenberg also entered into the Company’s standard forms of Management Continuity Agreement and Indemnification Agreement.
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Source: Depomed, Inc.
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