Piper Jaffray Adopts 2016 Employment Inducement Award Plan
February 29 2016 - 6:30PM
Business Wire
Piper Jaffray Companies (NYSE: PJC) today announced that it has
agreed to issue equity awards under the Piper Jaffray Companies
2016 Employment Inducement Award Plan. Piper Jaffray established
the inducement award plan to issue restricted stock awards to new
hires in connection with the acquisition of Simmons & Company
International. Under the terms of the agreement, Piper Jaffray will
issue an aggregate of $11.614 million of restricted shares to 31
employees who had been associated with Simmons. The shares will be
issued on May 15, 2016 and will be valued based upon the closing
price of the Piper Jaffray common stock on that date. The awards
are intended to aid in the retention of Simmons employees and were
approved in connection with the definitive transaction agreement
signed on November 16, 2015.
The inducement award plan was approved by the Piper Jaffray
Board of Directors in connection with the acquisition of Simmons.
Under the plan, Piper Jaffray may issue awards to new employees in
the form of stock options, stock appreciation rights, restricted
stock, restricted stock units, dividend equivalents or similar
awards.
About Piper JaffrayPiper Jaffray Companies (NYSE: PJC) is
a leading, international investment bank and asset management firm.
Securities brokerage and investment banking services are offered in
the U.S. through Piper Jaffray & Co., member SIPC and FINRA; in
Europe through Piper Jaffray Ltd., authorized and regulated by the
U.K. Financial Conduct Authority and Simmons & Company
International Limited, authorized and regulated by the U.K.
Financial Conduct Authority and the Dubai Financial Services
Authority; in Hong Kong through Piper Jaffray Hong Kong Limited,
authorized and regulated by the Securities and Futures Commission.
Asset management products and services are offered through four
separate investment advisory affiliates―U.S. Securities and
Exchange Commission (SEC) registered Advisory Research, Inc., Piper
Jaffray Investment Management LLC and PJC Capital Partners LLC; and
Guernsey-based Parallel General Partners Limited, authorized and
regulated by the Guernsey Financial Services Commission. Simmons
& Company International® | Energy Specialists of Piper Jaffray®
is a brand name used by certain broker/dealer affiliates of Piper
Jaffray Companies.
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© 2016 Piper Jaffray Companies, 800 Nicollet Mall, Suite 1000,
Minneapolis, Minnesota 55402-7036
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version on businesswire.com: http://www.businesswire.com/news/home/20160229007000/en/
Piper Jaffray CompaniesTom Smith, 612 303-6336Head of
Investor Relationsthomas.g.smith@pjc.comorPamela Steensland, 612
303-8185Head of Media Relationspamela.k.steensland@pjc.com
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