SYNCHRONOSS TECHNOLOGIES,INC. (NASDAQ:SNCR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December15, 2017, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Synchronoss Technologies,Inc. (the “Company”) adopted the Synchronoss Technologies,Inc. 2017 New Hire Equity Incentive Plan (the “2017 Plan”). The 2017 Plan provides for the grant of equity-based awards in the form of non-qualified stock options, restricted stock, restricted stock units and stock appreciation rights. The 2017 Plan was adopted by the Committee without stockholder approval to Rule5635(c)(4)of the Nasdaq Listing Rules.
The Committee has reserved 1,500,000 shares of the Company’s common stock for issuance to awards granted under the 2017 Plan, and the 2017 Plan will be administered by the Committee. In accordance with Rule5635(c)(4)of the Nasdaq Listing Rules, awards under the 2017 Plan may only be made to an employee who has not previously been an employee or member of the Board or any parent or subsidiary, or following a bona fide period of non-employment by the Company or a parent or subsidiary, if he or she is granted such award in connection with his or her commencement of employment with the Company or a subsidiary and such grant is an inducement material to his or her entering into employment with the Company or such subsidiary.
A complete copy of the 2017 Plan, form of notice of stock option grant and stock option agreement and form of notice of restricted stock award and restricted stock agreement to be used thereunder is filed herewith as Exhibit10.1 and incorporated herein by reference. The above description of the 2017 Plan does not purport to be complete and is qualified in its entirety by reference to such exhibit.
Item 9.01. Financial Statements and Exhibits.