Couchbase Announces New Employee Inducement Grants

Rhea-AI Summary

Couchbase (NASDAQ: BASE) announced new equity awards under its 2023 Inducement Equity Incentive Plan. On November 21, 2024, the company granted restricted stock units (RSU Awards) to 9 non-executive employees, totaling 19,905 shares. The vesting schedule includes 50% of shares vesting after the first year's quarterly vesting date, followed by 12.5% vesting quarterly thereafter, subject to continued employment. The grants were approved by Couchbase's Compensation Committee and comply with Nasdaq Rule 5635(c)(4) as employment inducements.

Positive

• Implementation of employee retention strategy through equity incentives
• Structured vesting schedule promotes long-term employee commitment

Negative

• Potential shareholder dilution from 19,905 new shares

SANTA CLARA, Calif., Nov. 26, 2024 /PRNewswire/ -- Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced it has granted equity awards under its 2023 Inducement Equity Incentive Plan to new employees who joined Couchbase.

On November 21, 2024, Couchbase granted 9 non-executive employees equity awards in the form of service-based restricted stock units ("RSU Awards"), representing the right to receive up to 19,905 shares of Couchbase, Inc. common stock in the aggregate, with fifty percent (50%) of the shares subject to such RSU Awards vesting on the first quarterly vesting date following the one (1) year anniversary of the vesting commencement date, and twelve and one-half percent (12.5%) of the shares subject to such RSU Awards vesting on each quarterly vesting date thereafter conditioned upon each employee's continued employment on the vesting date(s). 

The inducement grants were approved by Couchbase's Compensation Committee of the Board of Directors, as required by Nasdaq Rule 5635(c)(4), and were granted as a material inducement to employment in accordance with Nasdaq Rule 5635(c)(4).

About Couchbase

Modern customer experiences need a flexible database platform that can power applications spanning from cloud to edge and everything in between. Couchbase's mission is to simplify how developers and architects develop, deploy and run modern applications wherever they are. We have reimagined the database with our fast, flexible and affordable cloud database platform Capella, allowing organizations to quickly build applications that deliver premium experiences to their customers– all with best-in-class price performance. More than 30% of the Fortune 100 trust Couchbase to power their modern applications. For more information, visit www.couchbase.com and follow us on X (formerly Twitter) @couchbase.

Couchbase^®, the Couchbase logo and the names and marks associated with Couchbase's products are trademarks of Couchbase, Inc. All other trademarks are the property of their respective owners.

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SOURCE Couchbase, Inc.

FAQ

How many shares did Couchbase (BASE) grant in RSU awards on November 21, 2024?

Couchbase granted RSU awards representing 19,905 shares of common stock to 9 non-executive employees.

What is the vesting schedule for Couchbase's (BASE) November 2024 RSU awards?

50% of shares vest after the first year's quarterly vesting date, with 12.5% vesting quarterly thereafter, subject to continued employment.

How many non-executive employees received Couchbase (BASE) RSU awards in November 2024?

9 non-executive employees received RSU awards under the 2023 Inducement Equity Incentive Plan.