Glu Mobile Inc. (NASDAQ:GLUU), a leading global developer and publisher of free-to-play games for smartphone and tablet devices, announced that on May 11, 2015, its Compensation Committee awarded restricted stock units covering an aggregate of 41,600 shares of Glu’s common stock to 13 newly hired employees pursuant to Glu’s 2008 Equity Inducement Plan. Each of the restricted stock unit awards vests on a four-year schedule – 25% of the underlying shares will vest on May 15, 2016, with the remaining 75% of the underlying shares vesting in equal quarterly installments over the next three years on the same day of each third month (e.g., the next quarterly vesting date will be August 15, 2016, then November 15, 2016, etc.).
Glu’s Compensation Committee adopted the 2008 Equity Inducement Plan, which is a non-stockholder approved plan, to facilitate the granting of equity awards as an inducement material to new employees joining Glu. NASDAQ Marketplace Rule 5635(c)(4) requires a public announcement of equity awards made under this type of plan. (Original Source)
Shares of Glu Mobile closed today at $6.60, down $0.11 or 1.64%. GLUU has a 1-year high of $7.60 and a 1-year low of $3.27. The stock’s 50-day moving average is $5.47 and its 200-day moving average is $4.51.
On the ratings front, Glu Mobile has been the subject of a number of recent research reports. In a report issued on April 30, Northland Securities analyst Darren Aftahi reiterated a Buy rating on GLUU, with a price target of $9.50, which implies an upside of 41.6% from current levels. Separately, on the same day, Canaccord Genuity’s Michael Graham reiterated a Buy rating on the stock and has a price target of $8.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Darren Aftahi and Michael Graham have a total average return of 5.2% and 17.1% respectively. Aftahi has a success rate of 61.5% and is ranked #1183 out of 3599 analysts, while Graham has a success rate of 55.6% and is ranked #135.
Glu Mobile Inc develops, publishes & markets games designed to appeal to users of smartphones & tablet devices. Its gaming brands include Blood & Glory, Contract Killer, Deer Hunter, Eternity Warriors, Frontline Commando, Gun Bros, & Heroes of Destiny.