SOURCE: Rackspace Hosting

Rackspace Hosting

May 20, 2016 16:30 ET

Rackspace Reports New Employment Inducement Equity Grants

SAN ANTONIO, TX--(Marketwired - May 20, 2016) -  Rackspace® (NYSE: RAX) today reported that an aggregate of 76,281 of the company's common stock in the form of restricted stock units were granted to 16 new non-executive officer employees on May 13, 2016. The units were granted in accordance with NYSE Listing Rule 303A.08 under the Rackspace Inducement Equity Incentive Plan (the "Inducement Plan") as a material inducement to employees entering into employment with the company. The units are subject to the terms and conditions of the Inducement Plan and applicable restricted stock unit agreement, which may include vesting requirements.

About Rackspace
Rackspace (NYSE: RAX), the #1 managed cloud company, helps businesses tap the power of cloud computing without the complexity and cost of managing it on their own. Rackspace engineers deliver specialized expertise, easy-to-use tools, and Fanatical Support® for leading technologies developed by AWS, Google, Microsoft, OpenStack, VMware and others. The company serves customers in 120 countries, including a majority of the FORTUNE 100. Rackspace was named a leader in the 2015 Gartner Magic Quadrant for Cloud-Enabled Managed Hosting, and has been honored by Fortune, Forbes, and others as one of the best companies to work for. Learn more at www.rackspace.com.

Contact Information