INSPIRED ENTERTAINMENT, INC. (NASDAQ:INSE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
On September 24, 2018, the Compensation Committee of the Board of Directors of Inspired Entertainment, Inc. (the “Company”) determined to award Stewart F.B. Baker, the Company’s Executive Vice President and Chief Financial Officer and a member of the Company’s Office of Executive Chairman, 50,000 restricted stock units (“RSUs”) under the Company’s Second Long-Term Incentive Plan, in recognition of Mr. Baker’s expanded role as a member of the Office of Executive Chairman and the high level at which Mr. Baker has been performing his duties, including during a period of management transition for the Company. Each RSU represents a contingent right to receive one share of the Company’s common stock at settlement. Provided the holder has continued to provide services to the Company, the RSUs will vest on May 1, 2020, and will vest on an accelerated basis in the event of a transformational M&A transaction, a change in control or the holder’s death, disability or termination without cause (subject to the definitions, terms and conditions set forth in an award agreement with the Company). The award is subject to clawback provisions extending for three years following the settlement of the award.
About INSPIRED ENTERTAINMENT, INC. (NASDAQ:INSE)
Inspired Entertainment, Inc., formerly Hydra Industries Acquisition Corp., is a global games technology company. The Company is engaged in developing and operating digital games and networks. The Company is engaged in supplying Virtual Sports, Mobile Gaming and Server-Based Gaming (SBG) systems with associated terminals and digital content to regulated betting, gaming and lottery operators around the world. The Company operates through two segments: Server Based Gaming and Virtual Sports. The Company operates approximately 25,000 digital gaming terminals and supplies its Virtual Sports products in over 35,000 venues and on approximately 100 Websites in over 30 countries. The Company provides digital gaming solutions on its network that accommodates a range of devices, including land-based gaming machine products, mobile devices, such as smartphones and tablets, as well as personal computer (PC) and social applications.