Aterian, Inc. Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Aterian, Inc. (Nasdaq: ATER) announced a restricted stock award of 60,000 shares to a new employee under its 2022 Inducement Equity Incentive Plan. This inducement, compliant with Nasdaq Listing Rule 5635(c)(4), is a significant part of the employee's compensation, vesting over three years. One-third will vest after one year, with the remainder vesting quarterly, contingent on continued employment. Aterian leverages AI and proprietary software to enhance its e-commerce operations and has established a diverse portfolio of consumer products.

Positive

• The grant of 60,000 shares demonstrates Aterian's commitment to attracting talent.
• The stock award aligns employee interests with company performance over a multi-year vesting period.

Negative

• None.

NEW YORK, Aug. 31, 2022 (GLOBE NEWSWIRE) -- Aterian, Inc. (Nasdaq: ATER) (“Aterian”), today announced that it has granted a restricted stock award with respect to 60,000 shares of common stock to a new employee. This inducement award was granted pursuant to the Aterian 2022 Inducement Equity Incentive Plan and granted as an inducement material to the employee’s employment with Aterian in accordance with Nasdaq Listing Rule 5635(c)(4). The award will vest over three years, with 33.33% of the total number of shares subject to the award vesting on the one-year anniversary of the date of the recipient’s commencement of employment with Aterian and the balance vesting in equal amounts on a quarterly basis thereafter, subject to the recipient’s continued service to Aterian on each vesting date. Aterian is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).

About Aterian, Inc.

Aterian, Inc. (Nasdaq: ATER) is a leading technology-enabled consumer products platform that builds, acquires, and partners with best-in-class e-commerce brands by harnessing proprietary software and an agile supply chain to create top selling consumer products. Aterian’s cloud-based platform, Artificial Intelligence Marketplace Ecommerce Engine (AIMEE™), leverages machine learning, natural language processing and data analytics to streamline the management of products at scale across the world’s largest online marketplaces, including Amazon, Shopify and Walmart. Aterian has thousands of SKUs across 14 owned and operated brands and sells products in multiple categories, including home and kitchen appliances, health and wellness, beauty and consumer electronics.

Forward-Looking Statements

This press release includes forward-looking statements, including statements regarding Aterian’s employees and equity plans. These forward-looking statements are based upon information that is currently available to Aterian, speak only as of the date hereof, and are subject to numerous risks and uncertainties, including risks associated with Aterian’s employees and equity plans, and additional risks set forth in Aterian’s filings with the Securities and Exchange Commission. Aterian expressly disclaims any obligation, except as required by law, or undertaking to update or revise any such forward-looking statements.

Investor Contact:

Ilya Grozovsky
Director of Investor Relations & Corp. Development
Aterian, Inc.
ilya@aterian.io
917-905-1699

FAQ

What was announced in Aterian's press release on August 31, 2022?

Aterian announced a restricted stock award of 60,000 shares to a new employee as part of its 2022 Inducement Equity Incentive Plan.

How will the restricted stock award for Aterian be vested?

The stock award will vest over three years, with one-third vesting after one year and the remainder vesting quarterly.

What is the significance of the stock award for Aterian?

The stock award is intended to serve as an inducement to the employee's employment and aligns their interests with the company's long-term performance.

Under which Nasdaq rule was the stock award granted?

The stock award was granted in accordance with Nasdaq Listing Rule 5635(c)(4).

What is Aterian's core business focus?

Aterian focuses on building, acquiring, and partnering with e-commerce brands, leveraging proprietary software and an agile supply chain.