Cerence AI Announces Equity Grant to Employee Under Inducement Plan Pursuant to Nasdaq Listing Rule 5635(c)(4)
Cerence AI (NASDAQ: CRNC) has granted equity compensation to its new Executive Vice President and CFO, Tony Rodriquez, who joined on November 29, 2024. The package includes 313,283 time-based restricted stock units and 313,283 performance-based restricted stock units.
The time-based units will vest in three equal installments on October 1 of 2025, 2026, and 2027, contingent on Rodriquez's continued employment. The performance-based units will be earned based on company performance metrics for fiscal years 2025-2027, with one-third eligible each year. These awards were granted as employment inducement under Nasdaq Listing Rule 5635(c)(4).
Cerence AI (NASDAQ: CRNC) ha conferito una compensazione in azioni al suo nuovo Vicepresidente Esecutivo e CFO, Tony Rodriquez, che è entrato in carica il 29 novembre 2024. Il pacchetto comprende 313.283 unità di azioni vincolate in base al tempo e 313.283 unità di azioni vincolate in base alle prestazioni.
Le unità basate sul tempo matureranno in tre rate uguali il 1 ottobre del 2025, 2026 e 2027, a condizione che Rodriquez continui a essere impiegato. Le unità basate sulle prestazioni saranno guadagnate in base ai parametri di performance dell'azienda per gli anni fiscali 2025-2027, con un terzo idoneo ogni anno. Questi premi sono stati concessi come incentivo all'assunzione secondo la Regola di quotazione Nasdaq 5635(c)(4).
Cerence AI (NASDAQ: CRNC) ha otorgado compensación en acciones a su nuevo Vicepresidente Ejecutivo y CFO, Tony Rodriquez, quien se unió el 29 de noviembre de 2024. El paquete incluye 313,283 unidades de acciones restringidas basadas en el tiempo y 313,283 unidades de acciones restringidas basadas en el rendimiento.
Las unidades basadas en el tiempo se harán efectivas en tres desembolsos iguales el 1 de octubre de 2025, 2026 y 2027, sujeto a la continuación del empleo de Rodriquez. Las unidades basadas en el rendimiento se ganarán según los indicadores de rendimiento de la empresa para los años fiscales 2025-2027, con un tercio elegible cada año. Estos premios fueron otorgados como un incentivo de empleo bajo la Regla de Cotización Nasdaq 5635(c)(4).
세렌스 AI (NASDAQ: CRNC)는 새로운 총괄 부사장 겸 CFO인 토니 로드리게즈에게 주식 보상을 부여했습니다. 그는 2024년 11월 29일에 합류했습니다. 패키지에는 313,283개 시간 기반 제한 주식 단위와 313,283개 성과 기반 제한 주식 단위가 포함됩니다.
시간 기반 단위는 로드리게즈의 계속 고용을 조건으로 2025년, 2026년 및 2027년 10월 1일에 세 번에 걸쳐 동일한 비율로 발생합니다. 성과 기반 단위는 2025-2027 회계연도에 대한 회사의 성과 지표를 기준으로 발생하며, 매년 3분의 1이 적격합니다. 이러한 보상은 Nasdaq 상장 규칙 5635(c)(4)에 따라 고용 유인을 위해 부여되었습니다.
Cerence AI (NASDAQ: CRNC) a accordé une compensation en actions à son nouveau Vice-Président Exécutif et CFO, Tony Rodriquez, qui a rejoint l'entreprise le 29 novembre 2024. Le package comprend 313 283 unités d'actions restreintes basées sur le temps et 313 283 unités d'actions restreintes basées sur la performance.
Les unités basées sur le temps seront acquises en trois versements égaux les 1er octobre 2025, 2026 et 2027, sous réserve de la continuation de l'emploi de Rodriquez. Les unités basées sur la performance seront obtenues en fonction des indicateurs de performance de l'entreprise pour les exercices fiscaux 2025-2027, avec un tiers éligible chaque année. Ces récompenses ont été accordées comme incitation à l'emploi en vertu de la règle de cotation Nasdaq 5635(c)(4).
Cerence AI (NASDAQ: CRNC) hat seinem neuen Executive Vice President und CFO, Tony Rodriquez, der am 29. November 2024 zu dem Unternehmen stieß, eine Eigenkapitalvergütung gewährt. Das Paket umfasst 313.283 zeitbasierte, eingeschränkte Aktieneinheiten und 313.283 leistungsbasierte, eingeschränkte Aktieneinheiten.
Die zeitbasierten Einheiten werden in drei gleichen Raten am 1. Oktober 2025, 2026 und 2027 fällig, vorausgesetzt, Rodriquez bleibt weiterhin beschäftigt. Die leistungsbasierten Einheiten werden basierend auf den Unternehmensleistungskennzahlen für die Haushaltsjahre 2025-2027 erworben, wobei jedes Jahr ein Drittel berechtigt ist. Diese Auszeichnungen wurden als Anreiz für die Beschäftigung gemäß der Nasdaq-Listing-Regel 5635(c)(4) gewährt.
- Successful recruitment of new Executive VP and CFO, strengthening executive leadership
- Implementation of performance-based equity compensation structure aligning executive interests with company goals
- Significant equity dilution through issuance of 626,566 total restricted stock units
Insights
A substantial equity compensation package for the new CFO signals both commitment and alignment with long-term company objectives. The grant structure, combining 313,283 time-based and 313,283 performance-based RSUs, creates a balanced incentive framework. The three-year vesting schedule and performance metrics tie-in demonstrate a focus on retention and results-driven leadership. Based on current share prices, this represents a significant compensation package worth approximately
BURLINGTON, Mass., Dec. 06, 2024 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ: CRNC) (“Cerence AI”), a global industry leader in AI for transportation, today announced that, in connection with Antonio (“Tony”) Rodriquez’s recent appointment as Executive Vice President, Chief Financial Officer effective November 29, 2024, the Company granted Mr. Rodriquez 313,283 time-based restricted stock units and 313,283 performance-based restricted stock units. The time-based restricted stock units will vest in three equal installments on each of October 1, 2025, October 1, 2026, and October 1, 2027, in each case subject to Mr. Rodriquez’s continued service with the Company through the applicable vesting date. The performance-based restricted stock units will be earned based on the achievement of the Company’s performance metrics for each of fiscal year 2025, 2026 and 2027 with one-third of the total performance-based restricted stock units eligible to be earned for each fiscal year, subject to Mr. Rodriquez’s continued service with the Company through such vesting date. All of these awards were granted as an inducement material to Mr. Rodriquez entering into employment with the Company pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.
To learn more about Cerence AI, visit www.cerence.ai, and follow the company on LinkedIn.
About Cerence Inc.
Cerence Inc. (NASDAQ: CRNC) is a global industry leader in creating intuitive, seamless, AI-powered experiences across automotive and transportation. Leveraging decades of innovation and expertise in voice, generative AI, and large language models, Cerence powers integrated experiences that create safer, more connected, and more enjoyable journeys for drivers and passengers alike. With more than 500 million cars shipped with Cerence technology, the company partners with leading automakers, transportation OEMs, and technology companies to advance the next generation of user experiences. Cerence is headquartered in Burlington, Massachusetts, with operations globally and a worldwide team dedicated to pushing the boundaries of AI innovation. For more information, visit www.cerence.ai.
Contact Information
Kate Hickman | Tel: 339-215-4583 | Email: kate.hickman@cerence.com
FAQ
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