NEW YORK, April 10, 2013 /PRNewswire/ -- TheStreet, Inc. (NASDAQ: TST), a leading digital financial media company, today announced that Patrick Dignan has joined the Company to lead Advertising Sales for TheStreet. Mr. Dignan has over 25 years of experience in the financial services, media and publishing industries in advertising sales, most recently at Forbes.com and Nasdaq.com.
"As TheStreet continues its focus on operational excellence this year, Pat's experience in selling advertising in the financial services and luxury categories will complement our already robust executive team," said Elisabeth DeMarse, CEO and Chairman of TheStreet. "In addition, his strength in programmatic advertising should maximize sales across TheStreet's digital ad platform and play a significant role in supporting our future growth initiatives."
"TheStreet is a great brand that has distinguished itself with journalistic excellence, as well as actionable ideas from the intersection of investing, finance and business," said Mr. Dignan. "I am excited to take this accomplished brand to the next level of success."
On April 5, 2013, the Compensation Committee approved an equity award as an inducement material to Mr. Dignan's acceptance of employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4). In connection with his appointment, Mr. Dignan received an option to purchase 200,000 shares of the Company's common stock, with an exercise price of $1.90 per share which is equal to the closing price of the Company's Common Stock on April 8, 2013, Mr. Dignan's start date. The option has a five year term and vests over a period of four years, with 25% vesting after one year of the grant date and the remaining 75% vesting in approximately equal monthly increments over the succeeding thirty-six months, provided his continuous employment through each vesting date, and subject to acceleration or forfeiture upon the occurrence of certain events as set forth in his option agreement.
TheStreet, Inc. is a leading digital financial media company that distributes its content through online, social media, tablet and mobile channels. The Company's network of brands includes: TheStreet, RealMoney, RealMoney Pro, The Deal, Stockpickr, Action Alerts PLUS, Options Profits, MainStreet and Rate-Watch. For more information on TheStreet's business, visit www.t.st. For financial and business news, actionable trading ideas, stock quotes and more, visit TheStreet.com, follow TheStreet on Facebook and Twitter, visit TheStreet.mobi from your mobile device and access TheStreet through all major tablet platforms. For more information on The Deal, visit www.thedeal.com. The TheStreet, Inc. logo is available at: http://photos.prnewswire.com/prnh/20130102/NY35868LOGO-b.
This press release contains forward-looking statements regarding the Company's future operations, sales, growth initiatives and new management. Such forward-looking statements are subject to risks and uncertainties, including those described in the Company's filings with the Securities and Exchange Commission that could cause actual results to differ materially from those reflected in the forward-looking statements. The potential risks and uncertainties include, among others, the impact of management and organizational changes, the implementation and results of ongoing strategic and cost initiatives underway, the ability to integrate new acquisitions, the Company's dependence on key content distributors and key personnel, the Company's ability to compete with new and existing competitors, the Company's ability to protect its intellectual property and reputation, financial market conditions and general economic conditions. All forward-looking statements contained herein are made as of the date of this press release. The Company does not intend, and undertakes no obligation, to update these forward-looking statements, whether as a result of new information, future developments or otherwise.
Contacts: Elisabeth DeMarse Chairman, Chief Executive Officer and President TheStreet, Inc. 212-321-5234 firstname.lastname@example.org
Erica Mannion Investor Relations Sapphire Investor Relations, LLC 415-471-2700 email@example.com
SOURCE TheStreet, Inc.