JDA Software Announces Employee Inducement Awards
August 21 2009 - 8:00AM
Business Wire
JDA® Software Group, Inc. (NASDAQ: JDAS)
today reported that in connection with its hiring of Executive Vice
President, Sales & Marketing Jason B. Zintak on August
18, 2009, the compensation committee of the Company’s Board of
Directors approved equity awards to Mr. Zintak consisting of 50,000
restricted stock units of the Company, one third of which will vest
12 months from the date of hire, with the remainder vesting ratably
over a 24-month period commencing 12 months from the date of hire.
Mr. Zintak also received 50,000 restricted stock units of the
Company, which vest in tranches 45 days following the attainment of
certain performance milestones that will be determined within 90
days of the effective date of employment. Additionally, Mr.
Zintak’s inducement awards allow him to earn a target performance
share award equal to 30,000 shares (up to a maximum of 37,500
shares) of the Company’s common stock, which will be based upon the
achievement of the Company’s 2009 annual EBITDA target, as
previously established by the Company’s Board of Directors. In the
event of a change in control of the Company, the vesting of all
outstanding unvested equity awards granted to Mr. Zintak will
accelerate as of the date of the change in control unless the
acquiring company assumes the equity awards or provides substitute
equity awards. These awards have been granted outside of the terms
of the Company’s 2005 Performance Incentive Plan by the
Compensation Committee of the Company’s Board of Directors in
reliance on NASDAQ Marketplace Rule 5635(c)(4) as an inducement to
Mr. Zintak to join the Company.
About JDA Software Group, Inc.
JDA® Software Group, Inc. (NASDAQ: JDAS) is the world’s leading
supply chain solutions provider, helping companies optimize
operations and improve profitability. JDA drives business
efficiency for its global customer base of more than 5,800
retailers, manufacturers, wholesaler-distributors and services
industries companies through deep domain expertise and innovative
solutions. JDA’s combination of unmatched services, together with
its integrated yet modular solutions for merchandising, supply
chain planning and execution and revenue management, leverage the
strong heritage and knowledge capital of market leaders including
Manugistics, E3, Intactix and Arthur. When supply chain results
matter, companies turn to JDA. For more information about JDA,
visit www.jda.com or contact us at info@jda.com or call
+1.800.479.7382 / +1.480.308.3000.
We do not believe this press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Nevertheless, if remarks in this press release
are considered to be “forward-looking” or to have forward-looking
implications, we would remind our investors and prospective
investors that future events may involve risks and uncertainties.
Other risks and uncertainties that may affect our business are
detailed from time to time in the “Risk Factors” section of our
filings with the Securities and Exchange Commission. As a result of
these and other risks, actual results may differ materially from
those predicted. We undertake no obligation to update information
in this release.
“JDA” is a trademark or registered trademark of JDA Software
Group, Inc. Any trade, product or service name referenced in this
document using the name “JDA” is a trademark and/or property of JDA
Software Group, Inc.
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