|J. C. Penney Company, Inc. Grants Previously Disclosed Equity Inducement Award to Andrew Drexler|
PLANO, Texas (June 12, 2015) -- In accordance with the New York Stock Exchange rules regarding equity inducement awards, J. C. Penney Company, Inc. (NYSE: JCP) announced that on June 11, 2015, an equity inducement award of 78,358 stock options and 31,437 restricted stock units (RSUs) was granted to Andrew Drexler, the Company's Senior Vice President, Chief Accounting Officer and Controller, in connection with the commencement of his employment. The Company previously disclosed this award in connection with the announcement of Mr. Drexler's appointment in May.
The options and RSUs will vest in thirds on the first, second and third anniversaries, respectively, of the grant date, provided Mr. Drexler remains continuously employed with the Company through those dates.
View Stock Chart
Replication or redistribution of EDGAR Online, Inc. content is expressly prohibited without the prior written consent of EDGAR Online, Inc. EDGAR Online, Inc. shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
jcpenney now offers shareholders electronic delivery of the Summary Annual Report, Form 10-K and Proxy Statement over the Internet. Enroll