Couchbase Announces New Employee Inducement Grants

Rhea-AI Summary

Couchbase, Inc. (NASDAQ: BASE) granted 19 non-executive employees equity awards in the form of service-based restricted stock units, representing the right to receive up to 41,772 shares of Couchbase, Inc. common stock. Fifty percent of the shares vest on the first quarterly vesting date following the one year anniversary of the vesting commencement date, and twelve and a half percent vest on each quarterly vesting date thereafter.

SANTA CLARA, Calif., Dec. 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 November 29, 2023, Couchbase granted 19 non-executive employees equity awards in the form of service-based restricted stock units ("RSU Awards"), representing the right to receive up to 41,772 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 is the 2023 Inducement Equity Incentive Plan by Couchbase, Inc. (NASDAQ: BASE)?

The 2023 Inducement Equity Incentive Plan is a plan by Couchbase, Inc. (NASDAQ: BASE) to grant equity awards to new employees who joined the company.

How many non-executive employees were granted equity awards by Couchbase, Inc. (NASDAQ: BASE)?

Couchbase, Inc. (NASDAQ: BASE) granted equity awards to 19 non-executive employees.

What is the total number of shares represented by the RSU Awards granted by Couchbase, Inc. (NASDAQ: BASE)?

The RSU Awards represent the right to receive up to 41,772 shares of Couchbase, Inc. common stock in the aggregate.

How are the shares subject to RSU Awards vested by Couchbase, Inc. (NASDAQ: BASE)?

Fifty percent of the shares subject to the RSU Awards vest on the first quarterly vesting date following the one year anniversary of the vesting commencement date, and twelve and a half percent vest on each quarterly vesting date thereafter.

What was the purpose of the inducement grants approved by Couchbase, Inc. (NASDAQ: BASE)?

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