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

Rhea-AI Summary

authID Inc. (Nasdaq: AUID), a provider of biometric identity verification and authentication solutions, has announced an inducement grant under Nasdaq Listing Rule 5635(c)(4). The company granted non-qualified options to purchase 25,000 shares of common stock to a new employee. Key details of the option grant include:

• Grant date: September 9, 2024
• Exercise price: $7.99 per share
• Vesting: Equal monthly amounts over three years, subject to continued employment
• Term: Ten years

This option was granted as an inducement for the employee entering into employment with authID, in accordance with Nasdaq regulations.

Positive

• Attracting new talent with stock options, potentially aligning employee interests with company growth
• Compliance with Nasdaq listing rules for inducement grants

Negative

• Potential dilution of existing shareholders' stock value

Denver, Sept. 19, 2024 (GLOBE NEWSWIRE) --  authID Inc. (Nasdaq: AUID), a leading provider of biometric identity verification and authentication solutions, today announced the grant of non-qualified options to purchase 25,000 shares of common stock to one new employee (the “Option”). The Option grant date is September 9, 2024, the exercise price is $7.99 per share and the Option vests in equal amounts monthly over a period of three years, subject to continued employment.  The term of the Option is ten years. 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 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 and eliminates any assumption of ‘who’ is behind a device to prevent cybercriminals from compromising account openings or taking over accounts. Combining secure digital onboarding, FIDO2 passwordless login, and biometric authentication and account recovery, with a fast, accurate, user-friendly experience, authID delivers biometric identity processing in 700ms. Binding a biometric root of trust for each user to their account, authID stops fraud at onboarding, detects and stops deepfakes, eliminates password risks and costs, and provides the fastest, frictionless, and the more accurate user identity experience demanded by today’s digital ecosystem. Contact us to discover how authID can help your organization secure your workforce or consumer applications against identity fraud, cyberattacks and account takeover at authid.ai.

authID Investor Relations Contact

Gateway Group, Inc.
Cody Slach and Alex Thompson
1-949-574-3860
AUID@gateway-grp.com  

FAQ

What type of stock options did authID (AUID) grant to the new employee?

authID (AUID) granted non-qualified options to purchase 25,000 shares of common stock to a new employee.

What is the exercise price and vesting schedule for the authID (AUID) stock options granted on September 9, 2024?

The exercise price is $7.99 per share, and the options vest in equal amounts monthly over a period of three years, subject to continued employment.

What is the term of the stock options granted by authID (AUID) under the inducement grant?

The term of the stock options granted by authID (AUID) under the inducement grant is ten years.

Under which Nasdaq rule did authID (AUID) grant the inducement options?

authID (AUID) granted the inducement options in accordance with Nasdaq Listing Rule 5635(c)(4).