authID Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

authID Inc. (Nasdaq: AUID) grants 10,000 non-qualified options to a new employee at an exercise price of $9.85 per share, vesting annually over three years.

Denver, Dec. 01, 2023 (GLOBE NEWSWIRE) --  authID Inc. (Nasdaq: AUID), a leading provider of secure identity verification and authentication solutions, today announced the grant of non-qualified options to purchase 10,000 shares of common stock to one new employee (the “Option”). The Option grant date is December 1, 2023, the exercise price is $9.85 per share and the Option vests in equal thirds, annually over a period of three years, subject to continued employment.  The Option was granted as an inducement to this employee entering into employment in accordance with Nasdaq Listing Rule 5635(c)(4).

About authID
authID (Nasdaq: AUID) ensures cyber-savvy enterprises “Know Who’s Behind the Device” for every customer or employee login and transaction. Through its easy-to-integrate, patented, biometric identity platform, authID quickly and accurately verifies a user’s identity, eliminating any assumption of ‘who’ is behind a device and preventing cybercriminals from taking over accounts. authID combines digital onboarding, FIDO2 login, and biometric authentication and account recovery, with a fast, accurate, user-friendly experience – delivering identity verification in 700ms. Establishing a biometric root of trust for each user that is bound to their accounts and provisioned devices, authID stops fraud at onboarding, eliminates password risks and costs, and provides the faster, frictionless, and more accurate user identity experience demanded by operators of today’s digital ecosystems.

authID Media Contact

Graham Arad
General Counsel
investor-relations@authid.ai

FAQ

What is the ticker symbol for authID Inc.?

The ticker symbol for authID Inc. is AUID.

How many shares of common stock were granted to the new employee?

The new employee was granted 10,000 shares of common stock.

What is the exercise price for the non-qualified options?

The exercise price for the non-qualified options is $9.85 per share.

How long does it take for the Option to vest?

The Option vests in equal thirds, annually over a period of three years.

Why was the Option granted to the new employee?

The Option was granted as an inducement to the employee entering into employment in accordance with Nasdaq Listing Rule 5635(c)(4).