WOODLAND HILLS, Calif., May 9, 2014 (GLOBE NEWSWIRE) -- ReachLocal, Inc. (Nasdaq:RLOC), a leader in powering local online marketing for small- to medium-sized businesses (SMBs) is making this report in accordance with NASDAQ Listing Rule 5635. On May 8, 2014, ReachLocal granted options to five new employees (none of which are executive officers) to purchase an aggregate of 185,000 shares of ReachLocal's common stock as "employment inducement" awards granted to such employees as a material inducement to their entering into employment with the Company, pursuant to NASDAQ rules. Each option has an exercise price equal to $6.75, and vests 25% on the first anniversary of the grant date, and in equal monthly installments over the three years thereafter, subject to continued employment through the applicable vesting date.
About ReachLocal, Inc.
ReachLocal, Inc. (Nasdaq:RLOC) helps SMBs grow and operate their business better with leading technology and expert service for our clients' lead generation and conversion. ReachLocal is headquartered in Woodland Hills, Calif. For more information about ReachLocal, visit http://www.reachlocal.com.
For more information about ReachLocal, visit http://www.reachlocal.com, follow us at http://www.reachlocal.com/social, or email info@reachlocal.com.