Charles River Associates Grants Inducement Stock Options to Key Personnel from Recent Acquisitions
BOSTON--(BUSINESS WIRE)--Dec. 23, 2004--Charles River Associates Incorporated (NASDAQ: CRAI), an internationally known leader in providing economic, financial, and management consulting services, today announced that it has granted inducement stock options to purchase an aggregate of 28,500 shares of CRA common stock. The grants were made to seven former senior employees of Network Economics Consulting Group Pty Ltd. ("NECG") and two former senior employees of Tabors Caramanis & Associates ("TCA"), all of whom who recently joined CRA in connection with the Company's acquisitions of both NECG and TCA.
CRA provided the grants under its 2004 Nonqualified Inducement Stock Option Plan, which the Company adopted recently to facilitate the granting of stock options as an inducement to new employees to join CRA, pursuant to Rule 4350(i)(1)(A)(iv) of the Marketplace Rules of the Nasdaq Stock Market, Inc. Each option has a term of 10 years and an exercise price equal to the closing price of the common stock on the date of grant (December 22, 2004). In general, the options vest in four equal annual installments beginning on the first anniversary of the date of grant, and are generally non-transferable without CRA's approval.
About CRA
Founded in 1965, Charles River Associates is an economics, finance, and business consulting firm that works with businesses, law firms, accounting firms, and governments in providing a wide range of services. CRA combines its expertise in economic and financial analysis, litigation and regulation support, business strategy and planning, market and demand forecasting, policy analysis, and engineering and technology management. In addition to its corporate headquarters in Boston and international offices in Brussels, Canberra, Dubai, London, Melbourne, Mexico City, Sydney, Toronto, and Wellington, CRA also has U.S. offices in Cambridge, Chicago, College Station, Houston, New York, Oakland, Pasadena, Philadelphia, Salt Lake City, Silicon Valley, and Washington, D.C.
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