Eclipsys pays inducement grants following Premise purchase
Eclipsys will issue a total of 64,832 shares of Eclipsys common stock; and non-qualified options to purchase a total of 270,138 shares of common stock to certain employees of Premise.
The stock options are to be paid out as an employment inducement following the close of its recent acquisition of Premise.
All of the common stock is subject to contractual restrictions on transfer until vested: 25 percent of the total number of shares shall vest Dec. 1, 2009, Dec. 1, 2010, Dec. 1, 2011, and Dec. 1, 2012, in each case contingent upon continued employment, with partial pro-rata vesting for time served if employment is terminated by the employee with good reason, or by Eclipsys without cause.
The stock options have a seven-year term, an exercise price per share equal to the fair market value of Eclipsys common stock on the date of grant, and vest over four years, contingent upon continued employment, with partial pro-rata vesting for time served if employment is terminated by the employee with good reason or by Eclipsys without cause.
The stock options are to be paid out as an employment inducement following the close of its recent acquisition of Premise.
All of the common stock is subject to contractual restrictions on transfer until vested: 25 percent of the total number of shares shall vest Dec. 1, 2009, Dec. 1, 2010, Dec. 1, 2011, and Dec. 1, 2012, in each case contingent upon continued employment, with partial pro-rata vesting for time served if employment is terminated by the employee with good reason, or by Eclipsys without cause.
The stock options have a seven-year term, an exercise price per share equal to the fair market value of Eclipsys common stock on the date of grant, and vest over four years, contingent upon continued employment, with partial pro-rata vesting for time served if employment is terminated by the employee with good reason or by Eclipsys without cause.