Couchbase Announces New Employee Inducement Grants

Rhea-AI Summary

Couchbase, Inc. (NASDAQ: BASE) granted equity awards to new employees under its 2023 Inducement Equity Incentive Plan. The company awarded 15 non-executive employees with RSU Awards, totaling up to 28,759 shares of Couchbase, Inc. common stock. The awards vest over time, with 50% vesting after one year and the rest quarterly, subject to continued employment. The grants were approved by the Compensation Committee as a material inducement to employment.

SANTA CLARA, Calif., March 1, 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 March 1, 2024, Couchbase granted 15 non-executive employees equity awards in the form of service-based restricted stock units ("RSU Awards"), representing the right to receive up to 28,759 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 were granted to new employees by Couchbase, Inc. (BASE)?

Couchbase granted up to 28,759 shares of common stock to new employees.

What type of equity awards were given to new employees by Couchbase, Inc. (BASE)?

New employees received service-based restricted stock units (RSU Awards) from Couchbase.

How do the RSU Awards vest for new employees at Couchbase, Inc. (BASE)?

50% of the shares vest after one year, with the remaining vesting quarterly contingent on continued employment.

Who approved the equity grants for new employees at Couchbase, Inc. (BASE)?

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

Why were the equity awards granted to new employees by Couchbase, Inc. (BASE)?

The awards were granted as a material inducement to employment in accordance with Nasdaq Rule 5635(c)(4).