Yandex Announces Inducement Equity Awards
OREANDA-NEWS. February 3, 2012. Moscow and The Hague, February 3, 2012. Yandex (NASDAQ: YNDX) has announced the grant of employee equity awards in connection with its recent acquisition of SPB Software.
Yandex has granted an aggregate of 25,000 restricted share units to a total of 13 non-executive employees who joined Yandex in connection with this acquisition. These equity awards were granted outside Yandex’s shareholder-approved equity incentive plan, and constituted inducement awards for purposes of the applicable Nasdaq Stock Market rules. The grants were approved by the Company's Board of Directors.