SEATTLE, Feb. 27, 2020 /PRNewswire/ -- Zillow Group,
Inc. (NASDAQ:Z) (NASDAQ:ZG) today announced that on
February 26, 2020, the Compensation
Committee of its Board of Directors granted equity awards to
purchase an aggregate of 382,682 shares of its Class C stock to
compensate 69 new employees under the company's 2019 Equity
Inducement Plan.
Shares authorized by the compensation committee under Zillow
Group's 2019 Equity Inducement Plan may only be granted to
newly hired employees (or employees following a bona fide period of
non-employment) as an inducement material to such employees
entering into employment with Zillow Group, pursuant to Rule
5635(c)(4) of the NASDAQ Listing Rules. The inducement awards
consist of restricted stock units, or RSUs, for an aggregate of
191,258 shares of Class C stock to 63 new employees and stock
options to purchase an aggregate of 191,424 shares of Class C stock
to 30 new employees. The strike price of the stock options is
$57.08, which was the closing stock price on February 26, 2020.
Subject to continued employment with Zillow Group, the RSUs and
stock options will vest over a four-year period, with 25% vesting
on or around the first anniversary of the vesting commencement
date, which was the employee's first day of employment, and the
remainder vesting in equal quarterly installments over the three
years thereafter. The options have a ten-year term.
(ZFIN)
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SOURCE Zillow Group