DoorDash Grants Equity Awards Under Its 2022 Inducement Equity Incentive Plan
DoorDash (NYSE: DASH) has granted 103,589 restricted stock units (RSUs) to 63 Wolt employees in Israel as part of its 2022 Inducement Equity Incentive Plan, following the acquisition of Wolt. Each RSU vests 25% on May 31, 2023, and the remaining vests quarterly over 12 installments, contingent on continued employment. This equity incentive aims to retain key talent from Wolt and was approved by DoorDash's Leadership, Development, Inclusion, & Compensation Committee in May 2022.
- Granting RSUs may enhance employee retention and motivation at DoorDash.
- Strategic acquisition of Wolt strengthens DoorDash's market position.
- None.
SAN FRANCISCO, July 27, 2022 /PRNewswire/ -- DoorDash, Inc. (NYSE: DASH) ("DoorDash") today announced it has granted awards of restricted stock units ("RSUs") under its 2022 Inducement Equity Incentive Plan (the "Plan") and associated Israeli sub-plan to new employees residing in Israel who joined DoorDash or its subsidiaries in connection with the acquisition of Wolt Enterprises Oy ("Wolt") pursuant to the share purchase agreement between DoorDash, Wolt and certain other parties dated November 9, 2021, as amended April 9, 2022 (the "SPA"). The Plan was adopted by DoorDash's Leadership, Development, Inclusion, & Compensation Committee of its Board of Directors in May 2022, in accordance with New York Stock Exchange Rule 303A.08.
On July 20, 2022, DoorDash granted a total of 103,589 RSUs under the Plan to 63 continuing Wolt employees residing in Israel. Each award of retention RSUs under the Plan vests as to 25 percent of the award on May 31, 2023 and the balance of the award vests quarterly on DoorDash's quarterly vesting dates thereafter in 12 equal installments, subject to the holder's continued service with DoorDash or its subsidiaries (including Wolt) through each applicable vesting date. Each of the employees who received an equity award is a non-executive officer.
DoorDash (NYSE: DASH) is a technology company that connects consumers with their favorite local businesses in 27 countries across the globe. Founded in 2013, DoorDash builds products and services to help businesses innovate, grow, and reach more customers. DoorDash is building infrastructure for local commerce, enabling merchants to thrive in the convenience economy, giving consumers access to more of their communities, and providing work that empowers. With DoorDash, there is a neighborhood of good in every order.
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SOURCE DoorDash
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