Leap grants inducement awards.
TELECOMWORLDWIRE-March 18, 2013-Leap grants inducement awards(C)1994-2013 M2 COMMUNICATIONS http://www.m2.com
Leap Wireless International, Inc. (NASDAQ: LEAP) said it has issued inducement awards to two new non-executive employees.
The awards were made on March 14, 2013 under Leap's 2009 Employment Inducement Equity Incentive Plan, which provides for the granting of equity awards to new employees of Cricket Communications, Inc. as an inducement to join the company.
The inducement awards consist of options to purchase up to 41,500 shares of Leap common stock and deferred stock units for 40,900 shares of Leap common stock. The options have a ten year term and an exercise price equal to the fair market value of Leap common stock on the date of grant. The awards vest in four years, with the options vesting in equal 25 percent annual increments and the deferred stock units vesting in 25 percent equal increments on the second and third anniversaries of the date of grant and 50 percent on the fourth anniversary of the date of grant.
Leap provides wireless services to a diverse customer base. For more information, visit www.leapwireless.com.
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|Date:||Mar 18, 2013|
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