SkillSoft speeds up vesting of stock
Nashua-based SkillSoft announced Friday that it would accelerate the vesting of all of its employee-owned outstanding unvested stock options, not including the stock owned by executive officers or directors.
The decision by the firm’s board of directors makes 1.7 million unvested shares, or 11 percent of outstanding stock, immediately exercisable.
Eighty-six percent of the shares were due to be vested within 18 months from Jan. 13.
The move is expected to eliminate approximately $9.1 million in expenses attributed to compensation in other quarters beginning Feb. 1 based on the company’s adoption of certain share-based payment accounting principles. — CINDY KIBBE