CHICAGO, Dec. 6, 2019 /PRNewswire/ -- Grubhub Inc. (NYSE: GRUB), the nation's leading online and mobile food-ordering and delivery marketplace, today announced that on Dec. 6, 2019, the Compensation Committee of its Board of Directors granted restricted stock units, or RSUs, covering an aggregate of 212,246 shares of its common stock to 149 newly hired employees. These RSUs were granted outside of the terms of the Company's 2015 Long-Term Incentive Plan, and approved in reliance on the employment inducement exception under the New York Stock Exchange Listed Company Manual Rule 303A.08.
Subject to continued employment with the Company, the RSUs will vest over a four-year period, with 25% vesting on or around the first anniversary of the vesting commencement date (which is generally on or around the employee's start date with the Company), and the remainder vesting in equal quarterly installments over the three years thereafter.
Grubhub (NYSE: GRUB) is the nation's leading online and mobile food-ordering and delivery marketplace with the largest and most comprehensive network of restaurant partners, as well as the largest diner base. Dedicated to connecting diners with the food they love from their favorite local restaurants, Grubhub strives to elevate food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub is proud to work with more than 140,000 restaurant partners in over 2,700 U.S. cities and London. The Grubhub portfolio of brands includes Grubhub, Seamless, LevelUp, Tapingo, AllMenus and MenuPages.
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SOURCE Grubhub Inc.