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

Rhea-AI Summary

Aterian, Inc. (Nasdaq: ATER) announced the granting of restricted stock awards for 140,000 shares to two new employees as part of its 2022 Inducement Equity Incentive Plan. These inducement awards are aimed at attracting talent and will vest over three years, with one-third vesting on the one-year anniversary of employment and the rest vesting quarterly thereafter. This initiative aligns with Nasdaq Listing Rule 5635(c)(4) and highlights Aterian's commitment to building a strong workforce. The press release also emphasizes the company's technology-enabled platform for consumer products and includes a disclaimer regarding forward-looking statements.

Positive

• Aterian granted 140,000 shares as inducement awards to attract new employees.
• The awards are part of a structured vesting plan over three years, improving employee retention.

Negative

• None.

NEW YORK, March 31, 2023 (GLOBE NEWSWIRE) -- Aterian, Inc. (Nasdaq: ATER) (“Aterian”), today announced that it has granted restricted stock awards with respect to 140,000 shares of common stock to two new employees. These inducement awards were granted pursuant to the Aterian 2022 Inducement Equity Incentive Plan and granted as an inducement material to the employees’ employment with Aterian in accordance with Nasdaq Listing Rule 5635(c)(4). The awards 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 in each case 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 product 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. The Company’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 with a focus on Amazon, Shopify and Walmart. Aterian has thousands of SKUs across its many 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
Vice President, Investor Relations & Corp. Development
Aterian, Inc.
ilya@aterian.io
917-905-1699
Aterian.io

FAQ

What stock awards did Aterian grant on March 31, 2023?

Aterian granted 140,000 restricted stock awards to two new employees.

What is the vesting schedule for the stock awards granted by Aterian?

The stock awards will vest over three years, with 33.33% vesting on the one-year anniversary and the remainder vesting quarterly.

Why did Aterian grant stock awards to employees?

The stock awards were granted as an inducement material to the employees' employment with Aterian.

What is the significance of the inducement awards granted by Aterian?

These awards are intended to attract talent and align with Nasdaq Listing Rule 5635(c)(4).

What does Aterian do?

Aterian is a technology-enabled consumer product platform that builds and partners with e-commerce brands.