SEATTLE, Oct. 25, 2019 /PRNewswire/ -- Zillow Group,
Inc. (NASDAQ:Z) (NASDAQ:ZG) today announced that on
October 23, 2019, the compensation
committee of its Board of Directors granted equity awards to
purchase an aggregate of 337,141 shares of its Class C stock to
compensate 141 new employees under the company's 2019 Equity
Inducement Plan.
Shares authorized by the compensation committee under Zillow
Group's 2019 Equity Inducement Plan may only be granted to
newly hired employees (or employees following a bona fide period of
non-employment) as an inducement material to such employees
entering into employment with Zillow Group, pursuant to Rule
5635(c)(4) of the NASDAQ Listing Rules. The inducement awards
consist of restricted stock units, or RSUs, for an aggregate of
207,061 shares of Class C stock to 127 new employees and stock
options to purchase an aggregate of 130,080 shares of Class C stock
to 70 new employees. The strike price of the stock options is
$33.28, which was the closing stock price on October 23, 2019.
Subject to continued employment with Zillow Group, the RSUs and
stock options will vest over a four-year period, with 25% vesting
on or around the first anniversary of the vesting commencement
date, which was the employee's first day of employment, and the
remainder vesting in equal quarterly installments over the three
years thereafter. The options have a ten-year term.
(ZFIN)
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SOURCE Zillow Group, Inc.