Couchbase Announces New Employee Inducement Grants

Rhea-AI Summary

Couchbase, Inc. has granted equity awards to new employees under its 2023 Inducement Equity Incentive Plan. The company granted 25 non-executive employees service-based restricted stock units (RSU Awards), representing the right to receive up to 65,277 shares of Couchbase, Inc. common stock. The shares will vest on a quarterly basis, with 50% vesting after one year and the remaining vesting on each subsequent quarterly vesting date. The grants were approved by Couchbase's Compensation Committee and are in accordance with Nasdaq rules.

SANTA CLARA, Calif., Sept. 1, 2023 /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 August 30, 2023, Couchbase granted 25 non-executive employees equity awards in the form of service-based restricted stock units ("RSU Awards"), representing the right to receive up to 65,277 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 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

What did Couchbase announce?

Couchbase announced that it has granted equity awards to new employees under its 2023 Inducement Equity Incentive Plan.

What type of equity awards were granted?

The company granted service-based restricted stock units (RSU Awards) to the new employees.

How many shares of Couchbase common stock can the employees receive?

The employees have the right to receive up to 65,277 shares of Couchbase, Inc. common stock.

How will the shares vest?

The shares will vest on a quarterly basis, with 50% vesting after one year and the remaining vesting on each subsequent quarterly vesting date.

Who approved the inducement grants?

The inducement grants were approved by Couchbase's Compensation Committee of the Board of Directors.

Are the grants in compliance with Nasdaq rules?

Yes, the grants were granted as a material inducement to employment in accordance with Nasdaq Rule 5635(c)(4).