J.Jill, Inc. (NYSE:JILL) made a grant to Mark Webb on May 1, 2019 of
128,677 restricted stock units in respect of the Company’s common stock
(“RSUs”). The grant of RSUs was offered as a material inducement to Mr.
Webb’s hiring as Chief Financial Officer of the Company.
The RSUs were granted outside the terms of the Company’s 2017 Omnibus
Equity Incentive Plan and approved by the Company’s Board of Directors
in reliance on the employment inducement exemption under the NYSE’s
Listed Company Manual Rule 303A.08 which requires public announcement of
inducement awards. The Company is issuing this press release pursuant to
Rule 303A.08.
The RSUs shall generally vest and become exercisable in equal
installments on each of the first four anniversaries of the grant date,
subject to Mr. Webb’s continued employment with the Company.
Additionally, the RSUs may be subject to accelerated vesting in the
event of certain qualifying terminations of Mr. Webb’s employment
following a change of control of the Company.
About J.Jill, Inc.
J.Jill is a premier omnichannel retailer and nationally recognized
women’s apparel brand committed to delighting customers with great
wear-now product. The brand represents an easy, thoughtful and inspired
style that reflects the confidence of remarkable women who live life
with joy, passion and purpose. J.Jill offers a guiding customer
experience through more than 280 stores nationwide and a robust
e-commerce platform. J.Jill is headquartered outside Boston. For more
information, please visit www.jjill.com or
http://investors.jjill.com.
The information included on our websites is not incorporated by
reference.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190502005875/en/
Copyright Business Wire 2019