J. C. Penney Company, Inc. Grants Equity Inducement Award to Shawn Gensch
06 Juni 2019 - 11:51PM
In accordance with the New York Stock Exchange rules regarding
equity inducement awards, J. C. Penney Company, Inc. (NYSE: JCP)
announced that on June 6, 2019, an equity inducement award of
750,000 time-based restricted stock units (TBRSUs) was granted to
Shawn Gensch, the Company’s executive vice president, chief
customer officer, in connection with the commencement of his
employment.
Of the TBRSUs comprising Gensch’s inducement
award, 250,000 TBRSUs will vest in thirds on the first, second and
third anniversaries, respectively, of the grant date, and 500,000
TBRSUs will vest in full on the third anniversary of the grant
date, provided in each case that Gensch remains continuously
employed with the Company through such dates. The portion of
the award that vests in thirds will fully vest, and the portion of
the award that vests on the third anniversary of the grant date
will pro rata vest, in each case if Gensch is involuntarily
terminated for any reason other than cause, and the entire award
will fully vest if his employment terminates in certain cases
within two years following a change in control of the Company.
To access the original press release announcing Gensch’s
appointment, please visit:
https://www.jcpnewsroom.com/news-releases/2019/0521_announces_chief_customer_officer.html
JCPenney Media Relations: (972) 431-3400
or jcpnews@jcp.com Follow @jcpnews on Twitter for
the latest announcements and Company information.
Investor Relations:(972) 431-5500 or
jcpinvestorrelations@jcp.com
About JCPenney:J. C. Penney Company, Inc.
(NYSE: JCP), one of the nation’s largest apparel and home
retailers, combines an expansive footprint of over 860 stores
across the United States and Puerto Rico with a powerful e-commerce
site, jcp.com, to deliver style and value for all hard-working
American families. At every touchpoint, customers will discover
stylish merchandise at incredible value from an extensive portfolio
of private, exclusive and national brands. Reinforcing this
shopping experience is the customer service and warrior spirit of
approximately 95,000 associates across the globe, all driving
toward the Company's mission to help customers find what they love
for less time, money and effort. For additional information, please
visit jcp.com.
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