February 3, 2012
Yandex Announces Inducement Equity Awards in Connection With Acquisition
MOSCOW and THE HAGUE, Netherlands, Feb. 3, 2012 (GLOBE NEWSWIRE) — Yandex (Nasdaq:YNDX) has announced the grant of employee equity awards in connection with its recent acquisition of SPB Software.
Yandex has granted an aggregate of 25,000 restricted share units to a total of 13 non-executive employees who joined Yandex in connection with this acquisition. These equity awards were granted outside Yandex’s shareholder-approved equity incentive plan, and constituted inducement awards for purposes of the applicable NASDAQ Stock Market rules. The grants were approved by the Company’s Board of Directors.
ABOUT YANDEX
Yandex (Nasdaq:YNDX) is the leading internet company in Russia, operating the country’s most popular search engine and the most visited website. Yandex also operates in Ukraine, Kazakhstan, Belarus and Turkey. Yandex’s mission is to answer any question internet users may have.
The Yandex Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10933
CONTACT: Investor Relations
Dmitry Barsukov, Katya Zhukova
Phone: +7 495 739-70-00
E-mail: askIR@yandex-team.ru
US Investor Contact
The Blueshirt Group, for Yandex
Alex Wellins
Phone: +1 415 217-58-61
E-mail: alex@blueshirtgroup.com
Media Relations
Ochir Mandzhikov, Dina Litvinova
Phone: +7 495 739-70-00
E-mail: pr@yandex-team.ru
Written by: admin
Filed Under: Breaking News
Tags: Acquisition, equity incentive plan, hague netherlands, leading internet company, mail, mail alex, Nasdaq, nasdaq stock market
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