TheStreet invests in new CMO
Steve’s breakdown: Looks like Jim Cramer of “Mad Money” fame has found himself a CMO. Terri Smith will be heading up marketing and reporting to the company’s Chief Executive Officer, David Callaway.
NEW YORK, NY: TheStreet, Inc. (Nasdaq: TST) announced that Terri Smith has been named Chief Marketing Officer. Ms. Smith will lead the marketing organization and initiatives across TheStreet’s portfolio of business and personal finance brands.
Smith, an accomplished marketing leader, brings to the position more than 20 years of experience and a track record of driving visibility and revenue in competitive markets. Prior to joining TheStreet, Ms. Smith was Group Associate Publisher of Marketing at Meredith Corporation, a multi-platform media company, where she was responsible for marketing efforts across four lifestyle brands. She has also held senior marketing positions at Condé Nast and The New York Times.
Smith will report to the company’s Chief Executive Officer, David Callaway, who said, “Terri brings exceptional marketing expertise to TheStreet. Her leadership and experience will be key assets as we build our new branding strategy.”
In connection with Ms. Smith’s employment, on September 12, 2016, the company also granted an inducement award to Ms. Smith. The award was approved by the Compensation Committee, as an inducement material to her acceptance of employment with the company in accordance with NASDAQ Listing Rule 5635(c)(4).
The inducement grant to Ms. Smith consists of an option to purchase 150,000 shares of the company’s common stock with an exercise price of $1.15 per share, equal to the closing price of the company’s common stock as reported by NASDAQ on September 12, 2016, the grant date. The option has a seven-year term and vests over a period of three years, with one-third vesting after one year of employment and the remaining two-thirds vesting in approximately equal monthly increments over the succeeding twenty-four months, subject to Ms. Smith’s continued service relationship with the company through each vesting date, and subject to acceleration or forfeiture upon the occurrence of certain events as set forth in her option agreement.