Monotype Imaging Holdings Inc. (NASDAQ: TYPE) said that in association with its April 7, 2014 acquisition of Mark Boulton Design Ltd., and in compliance with NASDAQ Marketplace Rule 5635(c), the company has granted equity awards as inducement awards to employees of Mark Boulton Design who are now joining Monotype.
Under the terms of the agreement, Monotype has purchased Mark Boulton Design for approximately USD1.75m, including inducement awards of approximately USD1.0m in restricted common stock of Monotype Imaging Holdings Inc., which is subject to vesting over four years based on continued employment. These shares of restricted common stock will be provided to certain employees of Mark Boulton Design in connection with their employment by Monotype.
In connection with the transaction, Monotype has awarded 19,942 shares of restricted common stock to Mark Boulton, the former chief executive officer of Mark Boulton Design who is becoming the design director of Monotype´s Creative Professional group, and 13,294 shares of restricted common stock to Emma Boulton. These awards were issued on April 7, 2014 and the shares of restricted common stock were issued to each individual with no payment by such individual for the shares.
Monotype is a leading global provider of typefaces, technology and expertise that enable the best user experience and ensure brand integrity. Based in Woburn, Mass., Monotype provides customers worldwide with typeface solutions for a broad range of creative applications and consumer devices. Its website is at www.monotype.com.