PORTLAND, Ore., Feb. 11, 2011 /PRNewswire/ -- Rentrak Corporation (Nasdaq: RENT), a leader in multi-screen media measurement serving the advertising, television and entertainment industries, today announced a stock option grant to Chris Wilson, the company's newly appointed President of National Linear Television.
Rentrak's Compensation Committee, which is solely comprised of independent directors, approved the grant of stock options to purchase an aggregate of 120,200 shares of Rentrak common stock on February 1, 2011. The stock options were granted effective February 9, 2011 as a new employee inducement grant in accordance with NASDAQ Listing Standard 5635(c)(4),outside of Rentrak's shareholder-approved equity incentive plans. The stock options are subject to the terms and conditions of Rentrak's Amended and Restated 2005 Stock Incentive Plan, have a 10-year term and an exercise price of $26.91, which was the closing price of Rentrak's common stock on the grant date. With respect to 110,000 of the shares, 25 percent of the stock options will vest on each of the first four anniversaries of the grant date based on Wilson's continuous employment. With respect to the remaining 10,200 shares, the stock options will vest based upon the achievement of certain performance goals established by the Compensation Committee for the performance period ending March 31, 2012.
About Rentrak Corporation
Rentrak Corporation is a global digital media measurement and research company, serving the most recognizable companies in the entertainment industry. With a reach across numerous platforms including box office, multi-screen television, and home video, Rentrak has developed more efficient metrics to be used as alternative currencies for the evaluation and selling of media. Rentrak is headquartered in Portland, Oregon, with additional U.S. and international offices. For more information on Rentrak, please visit www.rentrak.com.
SOURCE Rentrak Corporation