U.S. Markets open in 6 hrs 26 mins

BlackBerry Announces Inducement Awards Pursuant to NYSE Rule 303A.08

WATERLOO, Ontario, April 5, 2019 /PRNewswire/ -- BlackBerry Limited (NYSE: BB; TSX: BB) announced that in connection with the acquisition of Cylance, the company's Board of Directors has approved a grant of performance-based restricted share unit awards (the "Inducement Awards") to Stuart McClure and Ryan Permeh covering up to 3,122,140 and 1,060,049 shares of common stock, respectively.

BlackBerry Logo Black (PRNewsfoto/Blackberry Limited)

The Inducement Awards are "employment inducement grants" under the New York Stock Exchange Listing Rule 303A.08. Up to 25%, 35% and 40% of the Inducement Awards are eligible for vesting at the end of BlackBerry's 2020, 2021 and 2022 fiscal years, respectively, if certain performance conditions are met. The company also notes that 75% of the awards eligible to vest in a given year are based on achievement of a billings goal and 25% are based on achievement of a contribution margin goal.

About BlackBerry
BlackBerry Limited (NYSE: BB; TSX: BB) enables the Enterprise of Things by providing the technology that allows endpoints to trust one another, communicate securely, and maintain privacy. Based in Waterloo, Ontario, the company was founded in 1984 and operates globally. For more information, visit www.BlackBerry.com and follow @BlackBerry.

Trademarks, including but not limited to BLACKBERRY, EMBLEM Design and BLACKBERRY RADAR are the trademarks or registered trademarks of BlackBerry Limited, and the exclusive rights to such trademarks are expressly reserved. All other trademarks are the property of their respective owners.

Media Contacts:
BlackBerry Media Relations
(519) 597-7273
mediarelations@BlackBerry.com

Investor Contacts:
BlackBerry Investor Relations
(519) 888-7465
investor_relations@BlackBerry.com

 

Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/blackberry-announces-inducement-awards-pursuant-to-nyse-rule-303a08-300825263.html