Couchbase Announces New Employee Inducement Grants

Rhea-AI Summary

Couchbase announced the allocation of equity awards under its 2023 Inducement Equity Incentive Plan to new employees on May 29, 2024. This includes RSU Awards for 12 non-executive employees, representing the right to receive up to 21,841 shares of Couchbase common stock. The vesting schedule involves 50% of the shares vesting after one year, with subsequent vesting of 12.5% per quarter, contingent on continued employment. These inducement grants were approved by Couchbase's Compensation Committee in compliance with Nasdaq Rule 5635(c)(4).

Positive

• Approval of inducement grants ensures adherence to Nasdaq compliance
• Equity awards can attract and retain talent, potentially boosting company performance
• Vesting schedule encourages employee retention over the long term

Negative

• Granting 21,841 shares may dilute existing shareholders' equity
• Contingent future vesting might lead to uncertainties in staff stability
• No immediate financial gain for the company highlighted in the announcement

SANTA CLARA, Calif., May 31, 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 May 29, 2024, Couchbase granted 12 non-executive employees equity awards in the form of service-based restricted stock units ("RSU Awards"), representing the right to receive up to 21,841 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

What are the terms of Couchbase's recent equity awards?

Couchbase granted RSU Awards representing up to 21,841 shares, with 50% vesting after one year and 12.5% vesting each quarter thereafter.

When were Couchbase's new employee inducement grants approved?

The inducement grants were approved by Couchbase's Compensation Committee on May 29, 2024.

How many employees received Couchbase's recent equity awards?

12 non-executive employees received equity awards under Couchbase's 2023 Inducement Equity Incentive Plan.

What is the vesting schedule for Couchbase's RSU Awards?

50% of the shares vest on the first quarterly vesting date after one year, with 12.5% vesting each subsequent quarter.

Why did Couchbase grant new equity awards?

The equity awards were granted to attract and retain new employees, as a material inducement to their employment.