Couchbase Announces New Employee Inducement Grants

Rhea-AI Summary

Couchbase, Inc. (NASDAQ: BASE) announced on March 3, 2023, the granting of equity awards under its 2023 Inducement Equity Incentive Plan to 36 new non-executive employees. A total of 169,785 shares will be awarded through service-based restricted stock units (RSUs). Specifically, 6 employees will receive RSUs for up to 24,543 shares, while 30 employees will receive RSUs for up to 145,242 shares. The vesting schedule varies, with partial vesting contingent on continued employment. This initiative is part of Couchbase's strategy to attract talent and was approved by the Compensation Committee in accordance with Nasdaq regulations.

Positive

• Attracting new talent through RSU awards, potentially enhancing workforce capabilities.
• Aligning employee interests with shareholder value through equity compensation.

Negative

• Concerns about the company's ability to retain talent long-term as RSUs vest based on continued employment.

SANTA CLARA, Calif., March 3, 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 February 28, 2023, Couchbase granted the following equity awards to 36 non-executive employees in the form of service-based restricted stock units ("RSU Awards"), representing the right to receive up to 169,785 shares of Couchbase, Inc. common stock in the aggregate:

• 6 employees received RSU Awards relating to up to 24,543 shares 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). 
• 30 employees received RSU Awards relating to up to 145,242 shares in the aggregate, with twenty-five percent (25%) 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 six and one-quarter percent (6.25%) 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 consume 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/couchbase-announces-new-employee-inducement-grants-301761845.html

SOURCE Couchbase, Inc.

FAQ

What is the significance of the new equity awards granted by Couchbase?

The new equity awards aim to attract and retain talent, aligning employee incentives with shareholder interests.

How many employees received equity awards from Couchbase?

A total of 36 non-executive employees received equity awards under the 2023 Inducement Equity Incentive Plan.

What type of equity awards did Couchbase grant?

Couchbase granted service-based restricted stock units (RSUs) totaling up to 169,785 shares.

When were the equity awards granted by Couchbase?

The equity awards were granted on February 28, 2023.

What is the vesting schedule for the RSUs awarded by Couchbase?

The vesting schedule varies, with up to 50% or 25% vesting after one year, followed by quarterly vesting based on continued employment.