ATLANTA, Aug. 09, 2016 (GLOBE NEWSWIRE) -- PRGX Global, Inc. (Nasdaq:PRGX), a global leader in Recovery Audit and Spend Analytics services, today announced that Robby Gulri has been named Vice President – Marketing. Mr. Gulri joins the Company from PreVu Data Predictive Analytics, where he was Chief Marketing Officer, responsible for product and channel marketing in the predictive analytics space. Prior to PreVu, Mr. Gulri worked for Echoworx Corporation, as Vice President of Marketing. Prior to Echoworx, Mr. Gulri held various marketing, sales and product management roles with BellSouth Corporation, Yahoo, Portal Software, Millenium Solutions, Intermedia Corporation, part of MCI-WorldCom, and Sirius Systems Sales Force Automation Software.
"We are delighted to have Robby join PRGX and lead our marketing team. His expertise in product management and marketing will be a significant asset to PRGX," said Sal DePrima, Senior Vice President - Growth and Market Development.
In connection with Mr. Gulri’s employment, on August 3, 2016, the Company granted an equity award to Mr. Gulri consisting of 10,000 performance-based restricted stock units (PBUs). The PBUs vest and become payable based on revenue from continuing operations and the cumulative adjusted EBITDA from continuing operations that the Company achieves for the two year performance period ending December 31, 2017. The PBUs also vest in full in the event of a change in control of the Company, provided Mr. Gulri remains continuously employed by the Company until such event. Upon vesting, the PBUs will be settled by the issuance of a number of shares of Company common stock equal to 40% of the number of PBUs being settled and the payment of cash in an amount equal to the fair market value of that number of shares of common stock equal to 60% of the number of PBUs being settled. The PBUs were otherwise granted on substantially the same terms as the performance-based restricted stock units granted to the Company’s executive officers on March 31, 2016.
The grants were approved by the compensation committee of the Company's board of directors, which committee is comprised solely of independent directors, and were granted as an inducement material to Mr. Gulri entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
About PRGX
PRGX Global, Inc. is a global leader in Recovery Audit and Spend Analytics services. With over 1,400 employees, the Company serves clients in more than 30 countries and provides its services to 75% of the top 20 global retailers and over 20% of the top 50 companies in the Fortune 500. PRGX delivers more than $1 billion in cash flow improvement for its clients each year. The creator of the recovery audit industry more than 40 years ago, PRGX continues to innovate through technology and expanded service offerings. In addition to Recovery Audit, the Company provides Contract Compliance, Spend Analytics and Supplier Information Management services to improve clients’ financial performance and manage risk. For additional information on PRGX, please visit www.prgx.com.
