3PEA International, Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
06 2월 2019 - 10:31PM
Business Wire
3PEA International, Inc. (NASDAQ:TPNL), a vertically integrated
provider of innovative prepaid card programs and processing
services for corporate, consumer and government applications,
announced that the compensation committee of its Board of Directors
has approved equity awards as a material inducement to employment
to five individuals, including the Chief Financial Officer and
Chief Legal Officer, hired by 3PEA during the Fourth Quarter of
2018 and First Quarter of 2019. The equity awards were approved in
accordance with Nasdaq Listing Rule 5635(c)(4).
The employees received, in the aggregate, options to purchase
150,000 shares of 3PEA's common stock, and in the aggregate, grants
equal to 1,000,000 restricted shares of 3PEA common stock. The
options have an exercise price of $3.565 per share, which is equal
to the closing price of 3PEA's common stock on January 14, 2019
(the “Option Date”). One-fifth of the shares underlying the
employee’s option will vest yearly on each anniversary of the
Option Date. The shares underlying the options will be fully vested
on the fifth anniversary of the Option Date, subject to continued
employment with 3PEA on such vesting dates. One-fifth of the
granted restricted shares will vest yearly on each anniversary of
the employee’s start date (“Grant Date”), such that the restricted
shares granted to each employee will be fully vested on the fifth
anniversary of the Grant Date, in each case, subject to each such
employee’s continued employment with 3PEA on such vesting date.
About 3PEA International
3PEA International (NASDAQ:TPNL) is an experienced and trusted
prepaid debit card payment solutions provider as well as an
integrated payment processor that has managed millions of prepaid
debit cards in its portfolio. Through its PaySign brand, 3PEA
conceptualizes, develops and manages payment solutions, prepaid
card programs, and customized payment services. 3PEA’s corporate
incentive prepaid cards are changing the way corporations reward,
motivate, and engage their current and potential customers,
employees, and agents. 3PEA’s customizable prepaid solutions offer
significant cost savings while improving brand recognition and
customer loyalty. 3PEA’s customers include healthcare companies,
major pharmaceutical companies, large multinationals, prestigious
universities, and social media companies. PaySign is a registered
trademark of 3PEA Technologies, Inc. in the United States and other
countries. For more information visit us
at www.3pea.com or follow us
on LinkedIn, Twitter and Facebook.
Forward-Looking Statements
Certain statements in this news release may contain
forward-looking information within the meaning of Rule 175 under
the Securities Act of 1933 and Rule 3b-6 under the Securities
Exchange Act of 1934, and are subject to the safe harbor created by
those rules. All statements, other than statements of fact,
included in this release, including, without limitation, statements
regarding potential future plans and objectives of the companies,
are forward-looking statements that involve risks and
uncertainties. There is no assurance that such statements will
prove to be accurate, and actual results and future events could
differ materially. 3PEA undertakes no obligation to publicly update
or revise any statements in this release, whether as a result of
new information, future events, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20190206005108/en/
3PEA International, Inc.Jim McCroy, 1-702-749-7269Investor
Relationsir@3pea.comwww.3pea.comorS&C Public Relations,
Inc.Suzanne Dawson1-646-941-9140sdawson@scprgroup.com
3pea International (NASDAQ:TPNL)
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