Rackspace Technology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rackspace Technology (NASDAQ: RXT) has granted inducement equity awards to its new Chief Executive Officer, Gajen Kandiah. The compensation package includes 4,000,000 restricted stock units (RSUs) and options to purchase 6,000,000 shares at $1.30 per share.
The stock options have a ten-year term, and both RSUs and options will vest equally over four years from 2026 to 2029, contingent on Kandiah's continued employment. The awards were granted outside the company's standard equity incentive plan and were approved by independent board members in compliance with Nasdaq Listing Rule 5635(c)(4).
Rackspace Technology (NASDAQ: RXT) ha assegnato premi azionari di incentivo al suo nuovo Amministratore Delegato, Gajen Kandiah. Il pacchetto retributivo comprende 4.000.000 di unit脿 azionarie vincolate (RSU) e opzioni per acquistare 6.000.000 di azioni a $1,30 per azione.
Le opzioni hanno una durata di dieci anni e sia le RSU che le opzioni matureranno in quote uguali nell'arco di quattro anni, dal 2026 al 2029, subordinatamente al mantenimento dell'impiego da parte di Kandiah. I premi sono stati concessi al di fuori del piano di incentivazione azionaria standard della societ脿 e sono stati approvati dai membri indipendenti del consiglio in conformit脿 alla Nasdaq Listing Rule 5635(c)(4).
Rackspace Technology (NASDAQ: RXT) ha otorgado concesiones de acciones de incentivo a su nuevo Director Ejecutivo, Gajen Kandiah. El paquete de compensaci贸n incluye 4,000,000 de unidades de acciones restringidas (RSU) y opciones para comprar 6,000,000 de acciones a $1.30 por acci贸n.
Las opciones tienen un plazo de diez a帽os y tanto las RSU como las opciones se consolidar谩n en partes iguales durante cuatro a帽os, desde 2026 hasta 2029, condicionado a la continuidad del empleo de Kandiah. Las concesiones se otorgaron fuera del plan est谩ndar de incentivos accionarios de la compa帽铆a y fueron aprobadas por los miembros independientes de la junta en cumplimiento con la Nasdaq Listing Rule 5635(c)(4).
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Rackspace Technology (NASDAQ: RXT) a accord茅 des attributions d'actions incitatives 脿 son nouveau directeur g茅n茅ral, Gajen Kandiah. Le package de r茅mun茅ration comprend 4 000 000 d'unit茅s d'actions restreintes (RSU) et des options d'achat de 6 000 000 d'actions 脿 1,30 $ par action.
Les options d'achat ont une dur茅e de dix ans et tant les RSU que les options seront acquises par tranches 茅gales sur quatre ans, de 2026 脿 2029, sous r茅serve de la poursuite de l'emploi de Kandiah. Les attributions ont 茅t茅 consenties en dehors du r茅gime d'int茅ressement en actions standard de la soci茅t茅 et ont 茅t茅 approuv茅es par des administrateurs ind茅pendants conform茅ment 脿 la r猫gle Nasdaq Listing Rule 5635(c)(4).
Rackspace Technology (NASDAQ: RXT) hat seinem neuen Chief Executive Officer, Gajen Kandiah, Anreizaktien gew盲hrt. Das Verg眉tungspaket umfasst 4.000.000 Restricted Stock Units (RSUs) und Optionen zum Kauf von 6.000.000 Aktien zu $1,30 je Aktie.
Die Aktienoptionen haben eine Laufzeit von zehn Jahren, und sowohl die RSUs als auch die Optionen werden gleichm盲脽ig 眉ber vier Jahre von 2026 bis 2029 vesten, vorbehaltlich Kandiahs fortgesetzter Besch盲ftigung. Die Zuweisungen erfolgten au脽erhalb des 眉blichen Aktienanreizplans der Gesellschaft und wurden von unabh盲ngigen Verwaltungsratsmitgliedern gem盲脽 der Nasdaq Listing Rule 5635(c)(4) genehmigt.
- New CEO appointment signals leadership transition and potential strategic shifts
- Substantial equity package aligns CEO interests with shareholders
- Significant potential dilution from 10 million total shares in awards
SAN ANTONIO, Sept. 05, 2025 (GLOBE NEWSWIRE) -- 听(狈础厂顿础蚕: RXT), a global provider of hybrid cloud and AI solutions, today announced that on September 4, 2025, the Company granted inducement equity awards to Gajen Kandiah in connection with his appointment as the Company鈥檚 new Chief Executive Officer.
Mr. Kandiah received 4,000,000 restricted stock units (RSUs) and non-qualified stock options to purchase 6,000,000 shares of the Company鈥檚 common stock. The stock options have an exercise price of
In accordance with Nasdaq Listing Rule 5635(c)(4), the equity awards were an inducement material to Mr. Kandiah鈥檚 entering into employment with the Company. The awards were approved by a majority of the independent members of the Company鈥檚 board of directors outside of the Company鈥檚 shareholder-approved equity incentive plan.
About Rackspace Technology
is a leading provider of end-to-end hybrid multicloud technology services and AI solutions company. We design, build, and operate our customers鈥� cloud environments across all major technology platforms, irrespective of technology stack or deployment model. We partner with our customers at every stage of their cloud journey, enabling them to modernize applications, build new products, and adopt innovative technologies.
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FAQ
What equity compensation did Rackspace Technology (RXT) grant to new CEO Gajen Kandiah?
When will Gajen Kandiah's RXT stock options and RSUs vest?
What is the exercise price of RXT's new CEO stock options?
Why did Rackspace Technology grant these equity awards outside their regular plan?
