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Abstract
Stamps.com also made inducement stock option grants for an aggregate of 62,000 shares of Stamps.com common stock to 48 new employees in connection with its acquisition of ShippingEasy. Each option vests 25% on the one year anniversary of the grant date and the remaining 75% vesting in approximately equal monthly increments over the succeeding thirty-six months provided that the option holder is still employed by the Company on the vesting dates. The stock options have a ten year term and an exercise price equal to closing price of Stamps.com common stock on the grant date of July 1, 2016. The stock options were granted as inducements material to the new employees entering employment with Stamps.com.
Stamps.com (NASDAQ: STMP) is the leading provider of postage online and shipping software solutions to approximately 650 thousand customers, including consumers, small businesses, e-commerce shippers, enterprises, and high volume shippers. Stamps.com offers solutions that help businesses run their shipping operations more smoothly and function more successfully under the brand names Stamps.com, Endicia, ShipStation and ShipWorks. Stamps.com's family of brands provides seamless access to mailing and shipping services through integrations with more than 400 unique partner applications.