Avaya Holdings Corp. (NYSE:AVYA), a global provider of solutions to enhance and simplify communications and collaboration, has announced that the Compensation Committee of Avaya´s board of directors (the “Committee”) granted certain equity awards to its Executive Vice President, Chief Product Officer, Anthony Bartolo, effective upon Bartolo´s commencement of employment with the company on December 9, 2019.
The Committee granted 87,873 time-based restricted stock units and nonqualified stock options to purchase 163,666 shares of Avaya common stock to Bartolo as a material inducement to Bartolo´s commencing employment with Avaya in accordance with NYSE Listing company Manual Rule 303A.08. The stock options have an exercise price per share that is equal to the closing price of Avaya common stock on the New York Stock Exchange on December 9, 2019.
Both awards vest over three years, with one-third of the total number of shares underlying the awards vesting on the first established quarterly vesting date after the first anniversary of the date of grant and then in equal, quarterly increments over the next two years on such quarterly vesting dates, subject to Bartolo´s continued employment with Avaya.
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