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

Rhea-AI Summary

Cardlytics, Inc. announced the grant of 38,500 restricted stock units to five new employees as inducements for employment. The grants were made under the 2022 Inducement Plan in accordance with Nasdaq Listing Rule 5635(c)(4). The restricted stock units have different vesting schedules, with some vesting in full after one year and others vesting partially over a period of 12 months.

ATLANTA, May 02, 2024 (GLOBE NEWSWIRE) -- Cardlytics, Inc. (NASDAQ: CDLX), an advertising platform in banks’ digital channels, today announced that, on May 1, 2024, the Compensation Committee of Cardlytics’ Board of Directors granted an aggregate of 38,500 restricted stock units of Cardlytics to five 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 five 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 rewards programs that promote customer loyalty and deepen 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, Los Angeles, New York, and London. Learn more at www.cardlytics.com.

Contacts:

Public Relations:
pr@cardlytics.com 

Investor Relations:
ir@cardlytics.com 

FAQ

How many restricted stock units were granted by Cardlytics?

Cardlytics granted 38,500 restricted stock units to five newly hired employees.

What is the purpose of granting restricted stock units?

The restricted stock units were granted as material inducements to employment with Cardlytics in accordance with Nasdaq Listing Rule 5635(c)(4).

What is the vesting schedule for the restricted stock units?

Some grant recipients will have 100% of the restricted stock units vest on the first anniversary of the grant date, while others will have 50% vest on the first anniversary and the remaining 50% vest quarterly over the subsequent 12 months.

Under which plan were the restricted stock units granted?

The restricted stock units were granted under the Cardlytics, Inc. 2022 Inducement Plan.