SAN MATEO, CA--(Marketwired - Dec 9, 2013) - Selectica, Inc. (NASDAQ: SLTC), provider of software that accelerates sales cycles and streamlines contract processes, today announced that on December 4, 2013, the company's board of directors approved the grant of an option to purchase 186,979 shares of Selectica common stock to Blaine Mathieu, the Company's recently appointed President and CEO. The non-qualified option has an exercise price per share of $6.28, the closing price of the company's common stock on December 4, 2013. 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. Mathieu'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. Mathieu'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 Selectica, Inc.
Selectica, Inc. (NASDAQ: SLTC) develops innovative software that the world's most successful companies rely on to improve the effectiveness of their sales and contracting processes. Our guided selling, sales configuration, and contract lifecycle management solutions support the Global 2000 and growing mid-size firms in closing billions of dollars' worth of business each year. Our patented technology, delivered through the cloud, makes it easy for customers in industries like high-tech, telecommunications, manufacturing, healthcare, financial services, and government contracting to overcome product and channel complexity, increase deal value, and accelerate time to revenue.
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