Financial Engines (NASDAQ:FNGN), a leading independent investment
advisor1, today announced its Board of Directors
has approved an inducement award as a component of employment
compensation for its recently appointed executive John Bunch. The award
was approved by the Board’s Compensation Committee on February 11, 2016
as an inducement material to Mr. Bunch’s entering into employment with
the Company in accordance with NASDAQ Listing Rule 5635(c)(4).
Mr. Bunch will receive an aggregate value of three million dollars
($3,000,000), half in the form of an option to purchase shares of the
Company’s common stock with an exercise price equal to the closing price
of the Company’s common stock as of the anticipated award date of
February 26, 2016, and one-half in the form of RSUs, with the number of
shares subject to the inducement award to be calculated based on the
closing price of the Company’s common stock on such date. The stock
options and RSUs shall vest based on continued service, with 25% of the
stock options vesting on the first anniversary of February 1, 2016, and
an additional 1/48th vesting monthly over the following 36
months, and the RSUs vesting 25% on the first anniversary of February 1,
2016, and an additional 25% on each the following three (3) annual
anniversary dates. In addition, the vesting of the stock options and
RSUs may be accelerated upon certain terminations of Mr. Bunch’s
employment, including in connection with a change in control. This award
was made outside of the Company's Amended and Restated 2009 Stock
Incentive Plan (the "2009 Plan"), but will be subject to terms and
conditions generally consistent with those in the 2009 Plan.
Mr. Bunch has served as President, Financial Engines Advisors L.L.C.,
our wholly—owned registered investment advisor subsidiary, and
President, The Mutual Fund Store, L.L.C. (also an advisory subsidiary)
since February 2016. Prior to joining the Company, Mr. Bunch held the
position of Chief Executive Officer at The Mutual Fund Store from
February 2012 to January 2016. For more information on Mr. Bunch, please
visit http://corp.financialengines.com/about/team.html.
About Financial Engines
Financial Engines is America’s largest independent investment advisor1.
We help people make the most of their money by providing full-service
financial planning, including professional investment management and
advice. Headquartered in Sunnyvale, CA, Financial Engines was co-founded
in 1996 by Nobel Prize-winning economist William F. Sharpe. We serve as
a comprehensive financial advisor for our workplace customers, and offer
help to more than nine million people across 670 companies (including
143 of the Fortune 500). Our unique approach, combined with powerful
online services, dedicated advisors and personal attention, promotes
greater financial wellness and helps more Americans to meet their
financial goals.
For more information, visit www.financialengines.com.
All advisory services provided by our investment advisory subsidiaries,
including Financial Engines Advisors L.L.C. and a nationwide system of
registered investment advisors known as The Mutual Fund Store. Financial
Engines does not guarantee future results.
All information in this press release is as of the date stated or
February 18, 2016 and unless required by law, Financial Engines
undertakes no obligation to publicly revise any statement to reflect
circumstances or events after the date of this press release or to
report the occurrence of unanticipated events.
1 For independence methodology and ranking, see
InvestmentNews RIA Data Center. (http://data.investmentnews.com/ria/).
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