SAN MATEO, CA, November 17, 2015 – Determine, Inc. (NASDAQ: DTRM), a leading global provider of SaaS enterprise contract lifecycle management, strategic sourcing, supplier management, and procure-to-pay solutions, today announced that on November 16, 2015, John Nolan, the Company’s recently appointed Chief Financial Officer, was granted an option to purchase 100,000 shares of Determine common stock.
The non-qualified option has an exercise price per share of $3.34, the closing price of the company’s common stock on November 16, 2015. The option has a 10-year term and vests over a 48-month period, with 25 percent of the option shares vesting after completion of 12 months of Mr. Nolan’s continuous service to the company, and the remaining option shares vesting in equal monthly installments over the following 36 months of continuous service to the company. The stock option will be subject to accelerated vesting in connection with certain qualifying terminations of service. The grant was made as an inducement that was a material component of Mr. Nolan’s compensation and subsequent acceptance of employment with the company and was granted as an employment inducement award pursuant to NASDAQ Listing Rule 5635(c)(4) approved by the majority of the company’s independent directors.
About Determine, Inc.
Determine (NASDAQ: DTRM) is a provider of leading enterprise cloud software solutions with over four decades of collective technical and process knowledge in the areas of strategic sourcing, enterprise contract lifecycle management, and procure to pay solutions. We provide the next generation of agile, enterprise cloud solutions for managing the needs of modern business. Using our intuitive applications, organizations can effectively manage the full scope of source to pay and enterprise contract lifecycle management requirements using the Determine platform.
The Determine platform is an open technology infrastructure based on smart process application models. The goal of our platform is to establish awareness of relevant data, manage business documents, embed analytical tools, create a means for collaboration, and provide advanced process management tools for fully integrating business processes through an open API infrastructure. Built on a unified and highly scalable platform, we deliver deep and innovative capabilities in strategic sourcing, supplier management, enterprise contract lifecycle management, e-procurement, invoicing, and other business operation areas.
In addition to our source to pay and enterprise contract lifecycle management solutions suite, we also provide a powerful, patented configuration engine solution, which Global 1000 companies use to increase revenue by facilitating the right combination of products, services, and price.
For more information, please visit: www.determine.com.