Couchbase Announces New Employee Inducement Grants

Rhea-AI Summary

Couchbase grants equity awards to new employees under its 2023 Inducement Equity Incentive Plan. 25 non-executive employees receive service-based restricted stock units (RSU Awards) representing up to 68,894 shares. Vesting of shares is based on quarterly vesting dates and continued employment.

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• Couchbase grants equity awards to new employees under its 2023 Inducement Equity Incentive Plan

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SANTA CLARA, Calif., June 2, 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 May 31, 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 68,894 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 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.

 

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SOURCE Couchbase, Inc.

FAQ

What is Couchbase's 2023 Inducement Equity Incentive Plan?

Couchbase's 2023 Inducement Equity Incentive Plan is a program that grants equity awards to new employees.

How many shares were granted to the employees?

25 non-executive employees received up to 68,894 shares in the form of service-based restricted stock units (RSU Awards).

How are the shares vested?

The shares are vested on quarterly vesting dates, with 50% vesting on the first quarterly vesting date after one year of employment, and 12.5% 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.