ABTL News Autobytel Inc. Announces Inducement Options Grants to Certain Employees
IRVINE, Calif.--(BUSINESS WIRE)--Autobytel Inc. (Nasdaq:ABTL), a leading Internet automotive marketing
services company, announced today, in accordance with NASDAQ rules, that
between October 3, 2006 and January 3, 2007, it made stock option
inducement grants under the 2006 Inducement Stock Option Plan to
purchase 230,000 shares of common stock of Autobytel in connection with
hiring 23 individuals to become employees of Autobytel. The exercise
prices for such options range from $3.10 to $3.60 per share of common
stock, and are equal to the closing market price of Autobytel’s
common stock on the NASDAQ Global Market on the respective date of grant.
Assuming such individuals remain actively employed by Autobytel through
each stated respective anniversary date, then such options vest, as to
one-third, on the first anniversary of the respective date of grant, and
1/24th on each monthly anniversary thereafter ending on the third
anniversary of the respective date of grant. The options may be
exercised once they vest.
About Autobytel Inc.
Autobytel Inc. (Nasdaq:ABTL) is one of the largest online automotive
marketplaces, empowering consumers to make smart vehicle choices using
objective automotive data and insightful interactive editorial content.
The result is a convenient car-buying process backed by a nationwide
network of dealers who are committed to providing a positive consumer
experience. Every day consumers choose Autobytel-owned and operated
websites —Autobytel.com, Autoweb.com,
CarSmart.com, Car.com, AutoSite.com, Autoahorros.com, and CarTV.com –
to facilitate their car-shopping decisions. Autobytel’s
ability to attract millions of highly qualified, in-market car buyers
and connect them with retailers has made it a leader in facilitating the
entire customer car-buying lifecycle.
The Company’s innovative marketing,
advertising, data and CRM products, including its Web Control®
customer management system, Retention Performance Marketing (RPM®)
service reminder program, Special Finance Leads(SM), and AIC®
data center, are designed to enable dealers to offer a premium consumer
experience. Since pioneering pro-consumer online automotive content and
purchasing in 1995, Autobytel has helped more than twenty-seven million
car buyers, generating billions of dollars in car sales for dealers.
