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BELLEVUE, WA --(Marketwired - January 29, 2016) - Blucora, Inc. (NASDAQ: BCOR) today announced that the independent compensation committee of Blucora's board of directors granted equity awards for an aggregate of approximately 1.6 million shares of Blucora common stock to 288 new employees in connection with its acquisition of the HD Vest Financial Services® business ("HD Vest"), which closed on December 31, 2015. The awards were granted under Blucora's 2016 Equity Inducement Plan in accordance with NASDAQ Listing Rule 5635(c)(4), as inducements material to the new employees entering employment with Blucora.
The inducement awards consist of restricted stock units, or RSUs, for an aggregate of 445,441 shares of Blucora common stock and stock options to purchase an aggregate of 1,153,988 million shares of Blucora common stock. Subject to continued employment with Blucora, the RSUs and stock options will vest over a three-year period, with 33.33% vesting on the first anniversary of the vesting commencement date, which was January 2, 2016, and the remainder vesting in equal six-month installments over the two years thereafter. The stock options have seven year terms and an exercise price of $8.63 per share, the closing price per share of Blucora common stock as reported by NASDAQ on January 29, 2016, the date of grant.
Blucora, Inc. (NASDAQ: BCOR) is a leading provider of financial management technology and services to consumers, small businesses and tax professionals. Our products and services in tax preparation and wealth management, through TaxAct and HD Vest, help consumers manage their financial lives. TaxAct is an affordable digital tax preparation solution for individuals, business owners and tax professionals. With a mission to empower people to navigate the complexities of tax and finance with ease and accuracy at a fair price, TaxAct is one of the top three visited online tax preparation destinations. HD Vest Financial Services ® supports an independent network of tax professionals who provide comprehensive financial planning solutions. Supporting more than 4,600 registered financial representatives, HD Vest had more than $37 billion in assets under administration for individuals, families and small businesses in all 50 states as of November 30, 2015. HD Vest Financial Services ® is the holding company for the group of companies providing financial services under the HD Vest name. Securities offered through HD Vest Investment Services℠, Member SIPC, Advisory services offered through HD Vest Advisory Services℠. For more information on Blucora or its businesses, please visit www.blucora.com.