GlobeNewswire Inc | Sep 29, 2020 04:30PM EDT

September 29, 2020

BRIDGEWATER, N.J., Sept. 29, 2020 (GLOBE NEWSWIRE) -- Synchronoss Technologies, Inc. (SNCR) (the Company or Synchronoss), a global leader and innovator in cloud, messaging, digital, and IoT products and platforms, today announced that the Company issued restricted stock and stock option awards to nine newly hired employees. Each of these grants was an inducement award that was approved by the Compensation Committee of Synchronoss Board of Directors, and granted as an inducement equity award under the Company's 2017 New Hire Equity Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4).

Synchronoss granted the nine newly hired employees an aggregate of 6,375 time-based restricted stock awards. The shares of restricted stock will vest 25% on the first, second, third and fourth anniversary of the grant date subject to continuous service thereafter. In addition, the employees received an aggregate of 2,125 time-based stock option awards. The Stock Options will vest 25% on the first, second, third, and fourth anniversary of the grant date subject to continuous service thereafter.

About SynchronossSynchronoss transforms the way companies create new revenue, reduce costs and delight their subscribers with cloud, messaging, digital and IoT products, supporting hundreds of millions of subscribers across the globe. Synchronoss secure, scalable and groundbreaking new technologies, trusted partnerships and talented people change the way TMT customers grow their business. For more information, visit us atwww.synchronoss.com

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CCGroupUS: Diane Rose, +1 727-238-7567synchronoss@ccgrouppr.com