NEW YORK, June 20, 2016 /PRNewswire/ -- TheStreet, Inc. (NASDAQ: TST), a leading digital financial media company, today announced that on June 17, 2016, the Compensation Committee of TheStreet's Board of Directors approved an equity award as an inducement material to Vice President of Finance, Robert Kondracki's acceptance of employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4).
In connection with his hiring on June 13, 2016, Mr. Kondracki received an option to purchase 100,000 shares of the Company's common stock, with an exercise price of $1.16 per share which is equal to the closing price of the Company's Common Stock on June 17, 2016, the grant date. The option has a seven year term and vests over a period of three years, with one-third vesting after one year of employment and the remaining two-thirds vesting in approximately equal monthly increments over the succeeding twenty-four 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. (www.t.st) is the leading independent digital financial media company providing business and financial news, investing ideas and analysis to personal and institutional investors worldwide. The Company's portfolio of business and personal finance brands includes: TheStreet, RealMoney, RealMoney Pro, Stockpickr, Action Alerts PLUS, Options Profits, MainStreet and RateWatch. To learn more, visit www.thestreet.com. The Deal, the Company's institutional business, provides intraday coverage of mergers and acquisitions and all other changes in corporate control. To learn more, visit www.thedeal.com.
Chief Financial Officer
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SOURCE TheStreet, Inc.