Company Issues New Employee Inducement Grants for Key New Hires
8x8, Inc. (NASDAQ:EGHT), the industry's most integrated Platform for CX that combines Contact Center, Unified Communication, and CPaaS APIs, today announced several new key management appointments to help accelerate the next phase of the company's CX transformation. In addition to the executive officer appointment of Joel Neeb as Chief Transformation and Business Operations Officer, the company recently appointed Darren Remblence as Vice President, Chief Information Security Officer, and Joe McStravick as Vice President of EMEA Sales.
Remblence has more than 25 years of international experience in Cyber and Information Security, with a history of leading high performing teams in complex and dynamic security environments across ecommerce, finance and former service with the Royal Air Force. Prior to 8x8, he was the Chief Information Security Officer at Rimini Street and has held management positions at PayPal, eBay, London Clearing House, Centrica, and DHL.
McStravick has more than 20 years of Telecoms and IT industry experience and a proven track record of driving growth, building strategic partnerships, and leading high-performing teams. Prior to 8x8, he held senior management roles, including EMEA Head of Channel and Strategic Alliances at Zoom, EMEA Managing Director at BlueJeans, and Head of Professional Services at BT Global.
"As we accelerate 8x8's transformation plan, we are committed to attracting top-tier, innovative management talent that aligns our strategic initiatives to address a very exciting market opportunity," said Samuel Wilson, Chief Executive Officer at 8x8, Inc. "Investing in our people ensures we continue to drive growth, innovation, and long-term value for our employees, customers, partners and shareholders, and we are also pleased to announce the issuance of equity awards to several key new hires."
8x8 announced the Compensation Committee of the Board of Directors approved grants of restricted stock units (RSUs) for up to 260,892 shares of 8x8's common stock to one executive officer, Joel Neeb, additional RSUs of up to 474,634 shares of 8x8's common stock to 6 additional employees, and performance stock units (PSUs) to Joel Neeb for up to 42,786 shares of 8x8's common stock. For each recipient, the RSUs will vest over a period of three years from the date of grant on February 15, 2025, with 33.3% of the shares vesting on February 15, 2026, and the remaining 66.7% vesting in equal quarterly installments over the following two years.
Additionally, to the extent earned, the PSUs will vest in two tranches over a three-year vesting period, with performance-based vesting for each tranche based on a specified increase in cumulative cash flow from operations, as measured over a three-year performance period. For both the RSUs and PSUs, vesting is subject to the recipient's continuing employment or other association with 8x8 or any of its subsidiaries on the vesting date. The awards were granted under and in accordance with 8x8's Amended and Restated 2017 New Employee Inducement Incentive Plan and approved by the independent directors of 8x8's Compensation Committee as material inducements to the hiring of the new employees in accordance with Nasdaq Listing Rule 5635(c)(4).
About 8x8 Inc.
8x8, Inc. (NASDAQ:EGHT) connects people and organizations through seamless communication on the industry's most integrated platform for Customer Experience—combining Contact Center, Unified Communication, and CPaaS APIs. The 8x8® Platform for CX integrates AI at every level to enable personalized customer journeys, drive operational excellence and insights, and facilitate team collaboration. We help customer experience and IT leaders become the heartbeat of their organizations, empowering them to unlock the potential of every interaction. For additional information, visit www.8x8.com, or follow 8x8 on LinkedIn, X, and Facebook.
8x8® is a trademark of 8x8, Inc.
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