Cardlytics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Cardlytics, Inc. grants 305,800 restricted stock units to 10 newly hired employees as material inducements to employment. The units were granted under the 2022 Inducement Plan with different vesting schedules.

Positive

• Cardlytics grants restricted stock units as inducements to employment, signaling company growth and attracting new talent.

Negative

• No negative takes identified.

ATLANTA, Oct. 27, 2023 (GLOBE NEWSWIRE) -- Cardlytics, Inc. (NASDAQ: CDLX), an advertising platform in banks’ digital channels, today announced that, on October 25, 2023, the Compensation Committee of Cardlytics’s Board of Directors granted an aggregate of 305,800 restricted stock units of Cardlytics to 10 newly hired employees. The restricted stock units were granted as material inducements to employment with Cardlytics in accordance with Nasdaq Listing Rule 5635(c)(4) and were granted under the Cardlytics, Inc. 2022 Inducement Plan (the “2022 Inducement Plan”).

The 10 newly hired employees were granted restricted stock units on one of two different vesting schedules. For some of the grant recipients, 100% of the restricted stock units shall vest on the first anniversary of the grant date, subject to the employees’ continuous service with Cardlytics through the vesting date. For the other grant recipients, 50% of the restricted stock units shall vest on the first anniversary of the grant date, and the remaining 50% shall vest quarterly over the subsequent 12 months, subject to the employees’ continuous service with Cardlytics through the vesting date. The restricted stock units are subject to the terms and conditions of the 2022 Inducement Plan.

About Cardlytics
Cardlytics (NASDAQ: CDLX) is a digital advertising platform. We partner with financial institutions to run their banking rewards programs that promote customer loyalty and deepen banking relationships. In turn, we have a secure view into where and when consumers are spending their money. We use these insights to help marketers identify, reach, and influence likely buyers at scale, as well as measure the true sales impact of marketing campaigns. Headquartered in Atlanta, Cardlytics has offices in Menlo Park, New York, Los Angeles, and London. Learn more at www.cardlytics.com.

PR Contact:

Robert Robinson
pr@cardlytics.com

Investor Relations:
Robert Robinson
ir@cardlytics.com

 

FAQ

What is the purpose of granting restricted stock units to newly hired employees?

The restricted stock units are granted as material inducements to employment, attracting new talent to the company.

How many restricted stock units were granted?

A total of 305,800 restricted stock units were granted to 10 newly hired employees.

What is the vesting schedule for the granted restricted stock units?

The vesting schedule varies: for some recipients, 100% of the units vest on the first anniversary of the grant date, while for others, 50% vest on the first anniversary and the remaining 50% vest quarterly over the subsequent 12 months.

What is the 2022 Inducement Plan?

The 2022 Inducement Plan is the plan under which the restricted stock units were granted to the newly hired employees, subject to its terms and conditions.