J. C. Penney Company, Inc. Grants Previously Disclosed Equity Inducement Award to Andrew Drexler
June 12 2015 - 4:05PM
PLANO, Texas
(June 12, 2015) -- In accordance with the New York Stock
Exchange rules regarding equity inducement awards, J. C. Penney
Company, Inc. (NYSE: JCP) announced that on June 11, 2015, an
equity inducement award of 78,358 stock options and 31,437
restricted stock units (RSUs) was granted to Andrew Drexler, the
Company's Senior Vice President, Chief Accounting Officer and
Controller, in connection with the commencement of his employment.
The Company previously disclosed this award in connection with the
announcement of Mr. Drexler's appointment in May.
The options and RSUs will vest in
thirds on the first, second and third anniversaries, respectively,
of the grant date, provided Mr. Drexler remains continuously
employed with the Company through those dates.
Media Relations:
(972) 431-3400 or jcpnews@jcp.com
Investor Relations:
(972) 431-5500 or jcpinvestorrelations@jcpenney.com
About JCPenney:
J. C. Penney Company, Inc. (NYSE: JCP), one of the nation's largest
apparel and home furnishing retailers, is dedicated to fitting the
diversity of America with unparalleled style, quality and value.
Across approximately 1,020 stores and at jcpenney.com, customers
will discover a broad assortment of national, private and exclusive
brands to fit all shapes, sizes, occasions and budgets. For
more information, please visit jcpenney.com.
###
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: J. C. Penney Company, Inc. via Globenewswire
HUG#1928288
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