PALO ALTO, CA -- (Marketwired) -- 10/18/13 -- TIBCO Software Inc. (NASDAQ: TIBX) today announced that equity awards were granted to new non-officer employees on October 15, 2013 under its Inducement Award Plan (the "Plan"). As described below, the grants were made either (i) to new employees of TIBCO or (ii) to newly hired employees of TIBCO in connection with a previously announced acquisition during the fourth fiscal quarter. The Plan was originally adopted by the Board of Directors of TIBCO on April 9, 2013 in accordance with NASDAQ Marketplace Rule 5635(c)(4).
With respect to new employees, TIBCO granted a total of 69,944 shares of restricted stock to 61 employees under the Plan and restricted stock units representing a total of 23,833 shares of common stock to 62 employees under the Plan. All of the restricted stock and the restricted stock units vest over four years, with 50 percent of the restricted stock or restricted stock units vesting on October 15, 2015, 25 percent of the restricted stock or restricted stock units vesting on the one year anniversary thereof, and the remainder of the applicable award vesting on the two year anniversary thereof.
With respect new employees hired in connection with the acquisition, TIBCO granted a total of 38,568 shares of restricted stock to 38 employees under the Plan. All of the restricted stock vests over four years, with 25 percent of the restricted stock vesting on October 15, 2014 and 25 percent of the restricted stock vesting each year thereafter through the fourth anniversary of the grant date.
TIBCO Software Inc. (NASDAQ: TIBX) is a provider of infrastructure software for companies to use on-premise or as part of cloud computing environments. Whether it's efficient claims or trade processing, cross-selling products based on real-time customer behavior, or averting a crisis before it happens, TIBCO provides companies the Two-Second Advantage® -- the ability to capture the right information, at the right time, and act on it preemptively for a competitive advantage. More than 4,000 customers worldwide rely on TIBCO to manage information, decisions, processes and applications in real time. Learn more at www.tibco.com.
TIBCO, Two-Second Advantage and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.