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

Rhea-AI Summary

Aterian, Inc. (Nasdaq: ATER) announced the granting of a restricted stock award of 500,000 shares to its new Chief Operating Officer, Anton von Rueden, as part of its 2022 Inducement Equity Incentive Plan. The shares will vest over three years, starting with 33.33% on April 18, 2023. Additionally, Aterian awarded 150,000 shares to two other employees under the same plan, also vesting over three years. These actions comply with Nasdaq Listing Rule 5635(c)(4) and aim to incentivize key personnel as Aterian continues to expand its operations.

Positive

• Granting of 500,000 shares to attract and retain a new COO, aligning management interests with shareholder value.
• Total of 150,000 shares awarded to two additional employees, indicating commitment to employee retention and motivation.

Negative

• None.

NEW YORK, June 02, 2022 (GLOBE NEWSWIRE) -- Aterian, Inc. (Nasdaq: ATER) (“Aterian”), today announced that it has granted a restricted stock award with respect to 500,000 shares of common stock to Anton von Rueden, Aterian’s newly appointed Chief Operating Officer. This inducement award was granted pursuant to the Aterian 2022 Inducement Equity Incentive Plan, approved by the compensation committee of Aterian’s board of directors on May 27, 2022 (the “2022 Inducement Plan”), and granted as an inducement material to Mr. von Rueden’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 vesting on April 18, 2023, and the balance vesting in equal amounts on a quarterly basis thereafter, subject in each case to Mr. von Rueden’s continued service to Aterian on each vesting date.

Aterian today also announced that it has granted restricted stock awards to two additional employees. These inducement awards were granted pursuant to the 2022 Inducement Plan and granted as an inducement material to each employee’s employment with Aterian in accordance with Nasdaq Listing Rule 5635(c)(4). Aterian granted a total of 150,000 shares of restricted common stock to these employees. Each award will vest over three years, with 33.33% of the total number of shares of each award vesting on the one-year anniversary of the date of each recipient’s commencement of employment with Aterian, the balance vesting in equal amounts on a quarterly basis thereafter, subject in each case to each 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.