ATLANTA, March 09, 2018 (GLOBE NEWSWIRE) -- PRGX Global, Inc. (Nasdaq:PRGX), a global leader in Recovery Audit and Spend Analytics services, today announced that Doug Halka has been named Vice President and GM - Commercial, responsible for driving new business development and expanding existing client relationships in the Commercial Recovery Audit business. Prior to joining the Company, Mr. Halka served as Managing Director, Operations, for Accenture plc, responsible for growing client relationships across the Southeast region. Before Accenture, Mr. Halka served as Partner for JMS Advisory Group, a firm dedicated to escheat process development and improvement, and prior to that he was Managing Director/Partner for Callaway Partners, which was acquired by Huron Consulting Group Inc. in 2007. From 1996 through 2007, Mr. Halka held a series of business development management roles with Deloitte & Touche LLP and Arthur Anderson LLP.
“We are delighted to have Doug join PRGX,” said Daryl Rolley, Senior Vice President and Chief Commercial Officer. “We look forward to leveraging his valuable leadership and business development experience to drive the performance of our Company.”
In connection with Mr. Halka’s employment, on March 5, 2018, the Company granted equity awards to Mr. Halka consisting of 12,000 shares of restricted stock, 18,000 performance-based restricted stock units (PBUs), and options to purchase 70,000 shares of the Company's common stock. The restricted stock and options will vest in equal one-third increments on each of March 5, 2019, March 5, 2020 and March 5, 2021, subject to Mr. Halka’s continued employment with the Company. The options have an exercise price of $8.15 per share. 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, 2018. The terms of the PBUs are consistent with the terms of the PBUs granted to the Company’s executive officers on March 30, 2017. The restricted stock, options and PBUs also vest in full in the event of a change in control of the Company, provided Mr. Halka remains continuously employed by the Company until such event.
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. Halka 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 1,500 employees, the Company serves clients in more than 30 countries and provides its services to 75% of the top 20 global retailers and over 30% 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.
