SAN ANTONIO, TX -- (Marketwired) -- 09/21/15 -- Harte Hanks, Inc. (NYSE: HHS) today announced additional details of its previously announced employment inducement awards granted to Ms. Karen A. Puckett in connection with her appointment as its new President and Chief Executive Officer. Harte Hanks' independent directors approved the employment inducement awards (the "Inducement Awards") as a material inducement to Ms. Puckett to accept her offer of employment, in reliance on the employment inducement award exemption to New York Stock Exchange Listing Rule 303A.08.
The Inducement Awards were initially denominated in dollar amounts, and the number of shares underlying each award has now been determined as follows: Ms. Puckett received (i) a non-qualified stock option award for 867,364 shares with an exercise price equal to the closing market price per share of Harte Hanks' common stock on the date of grant, which option shall vest in four equal installments on the first four anniversaries of the date of grant and expire on the tenth anniversary of the date of grant; (ii) an award of 212,401 shares of restricted Harte Hanks' common stock, which shares of restricted stock shall vest in three equal installments on the first three anniversaries of the date of grant; and (iii) a performance unit award for a maximum number of 349,809 units, which award shall vest on March 15, 2019 to the extent that Harte Hanks meets certain performance criteria based on relative total shareholder return. The Inducement Awards are subject to vesting acceleration upon certain termination of employment events and certain transactions involving the Company.
About Harte Hanks
Harte Hanks partners with clients to deliver relevant, connected and quality customer interactions. Our approach starts with discovery and learning, which leads to customer journey mapping, creative and content development, analytics and data management, and ends with execution and support in a variety of digital and traditional channels. We do something powerful: we produce engaging and memorable customer interactions to drive business results for our clients, which is why Harte Hanks is famous for developing better customer relationships, experiences and defining interaction-led marketing. For more information, visit the Harte Hanks website at www.hartehanks.com, call (800) 456-9748, email pr@hartehanks.com or follow us on Twitter @hartehanks or Facebook at https://www.facebook.com/HarteHanks.
Forward-Looking Statements
This press release contains forward-looking statements, including statements about the Company's leadership transition. A number of risks and uncertainties could cause actual results to differ materially from currently anticipated results. Additional important factors and information regarding Harte Hanks that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in our Annual Report on Form 10-K, as filed with the SEC and available in the "Investors" section of our website under the heading "Financials & Filings." We specifically disclaim any obligation to update these forward-looking statements in the future even if circumstances change and, therefore, you should not rely on these forward-looking statements as representing our views after today.
As used herein, "Harte Hanks" refers to Harte Hanks, Inc. and/or its applicable operating subsidiaries, as the context may require. Harte Hanks' logo and name are trademarks owned by Harte Hanks.
