SOURCE: Rackspace Hosting

Rackspace Hosting

March 09, 2016 09:00 ET

Rackspace Announces New Employment Inducement Awards

SAN ANTONIO, TX--(Marketwired - March 09, 2016) -  Rackspace® (NYSE: RAX), today announced that restricted stock units underlying the Company's ordinary shares of 92,025 in the aggregate were granted to 37 new non-executive officer employees on February 24, 2016. The units were granted in accordance with NYSE Listing Rule 303A.08 under the Rackspace Inducement Equity Incentive Plan (the "Inducement Plan"), which the Board of Directors of Rackspace adopted in March 2014 to facilitate the granting of equity awards to new employees. The units vest in four equal installments beginning on March 5, 2017. The units are subject to the terms and conditions of the Inducement Plan and applicable restricted stock unit agreement.

About Rackspace
Rackspace (NYSE: RAX), the #1 managed cloud company, helps businesses tap the power of cloud computing without the challenge and expense of managing complex IT infrastructure and application platforms on their own. Rackspace engineers deliver specialized expertise on top of leading technologies developed by AWS, Microsoft, OpenStack, VMware and others, through a results-obsessed service known as Fanatical Support®. The company has more than 300,000 customers worldwide, including two-thirds of the FORTUNE 100. Rackspace was named a leader in the 2015 Gartner Magic Quadrant for Cloud-Enabled Managed Hosting, and has been honored as one of Fortune's Best Companies to Work For in six of the past eight years. Learn more at www.rackspace.com.

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