TORONTO, ONTARIO--(Marketwired - Oct. 14, 2016) - People Corporation (the "Company") (TSX VENTURE:PEO) today announced that the Company's Board of Directors approved the grant of long-term equity incentive awards to its independent directors and to certain senior management of the Company. These incentive awards were granted under the Company's Security Based Compensation Plan (the "Plan"), established to reward directors and senior officers and employees based on individual and corporate performance, to align their interests with that of the Company and to provide for long-term incentives.
In particular, the Company granted:
- 30,173 stock options to its independent directors with exercise prices of $3.99 per option, having terms of eight years, vesting over a period of three years and otherwise subject to the terms of the Plan;
- 15,036 deferred stock units (DSUs) to its independent directors, vesting immediately and otherwise subject to the terms of the Plan;
- 170,423 restricted stock units (RSUs), issued subject to performance conditions to certain of its senior management, vesting after three years and otherwise subject to the terms of the Plan.
About People Corporation
People is a national provider of group benefits, group retirement and human resource services. The Company has offices across Canada, each led by a team of experts and backed by the resources of a national company that is traded on the TSX-V. Our industry experts provide uniquely valuable insight while customizing our innovative suite of services to the specific needs of our clients. Whatever your sector, whatever your scale, putting our expertise and proven track record to work will make a difference to your people and your bottom line.
Further information is available at www.peoplecorporation.com.
This news release contains "forward-looking information" within the meaning of applicable securities laws, such as information concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Use of words such as "may", "will", "expect", "believe", or other words of similar effect may indicate forward-looking information including the completion of the transaction, the impact of that transaction on our earnings and cash flow, and the anticipated benefits of the transaction. This information is not a guarantee of future performance and is subject to numerous risks and uncertainties, including those described in our publicly filed documents (which are available on SEDAR at www.sedar.com). Those risks and uncertainties include: our ability to maintain profitability and manage growth; strong competition from other advisors and changes in the current legislation could result in significant competition from the banking industry; failure of information systems and technology; dependence on key clients; seasonality of revenues and the resulting possible impairment on working capital; reliance on key professionals; additional financing may be required and may not be available under terms favourable to us; there can be no assurance that any suitable future acquisition will be available to us or that, if available, the terms of the acquisition will be favourable to us; and a change in general economic conditions. Many of these risks and uncertainties can affect our actual results and could cause our actual results to differ materially from those expressed or implied in any forward-looking information made by us or on our behalf. Given these risks and uncertainties, investors should not place undue reliance on forward looking information as a prediction of actual results. All forward-looking information in this news release is qualified by these cautionary statements. This information is made as of the date of this news release and, except as required by applicable law, we undertake no obligation to publicly update or revise any forward looking information, whether as a result of new information, future events or otherwise. Additionally, we undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Investor Relations Inquiries:
Investor relations inquiries should be directed to:
Chief Financial Officer & Chief Operating Officer