Etsy Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
Etsy (NASDAQ: ETSY) has announced a significant inducement grant under Nasdaq Listing Rule 5635(c)(4) for its new Chief Financial Officer, Lanny Baker. The grant, issued on March 17, 2025, consists of 45,064 performance stock units (PSUs) of Etsy's common stock.
The PSUs were granted under the Etsy, Inc. 2024 Inducement Plan, established on December 12, 2024, as a material inducement for Baker, who joined the company on January 1, 2025. The performance-based units will be earned based on specific performance targets set by Etsy's Compensation Committee and vest over a three-year period, contingent upon continued employment.
Etsy (NASDAQ: ETSY) ha annunciato un'importante concessione di incentivazione ai sensi della Regola di Quotazione Nasdaq 5635(c)(4) per il suo nuovo Direttore Finanziario, Lanny Baker. La concessione, emessa il 17 marzo 2025, consiste in 45.064 unità azionarie di performance (PSU) delle azioni ordinarie di Etsy.
Le PSU sono state concesse nell'ambito del Piano di Incentivazione Etsy, Inc. 2024, istituito il 12 dicembre 2024, come incentivo materiale per Baker, che è entrato a far parte dell'azienda il 1 gennaio 2025. Le unità basate sulle performance saranno guadagnate in base a specifici obiettivi di performance stabiliti dal Comitato per la Retribuzione di Etsy e si matureranno nel corso di un periodo di tre anni, a condizione di un impiego continuativo.
Etsy (NASDAQ: ETSY) ha anunciado una concesión de incentivo significativa bajo la Regla de Cotización Nasdaq 5635(c)(4) para su nuevo Director Financiero, Lanny Baker. La concesión, emitida el 17 de marzo de 2025, consiste en 45,064 unidades de acciones de rendimiento (PSUs) de las acciones ordinarias de Etsy.
Las PSUs se otorgaron bajo el Plan de Incentivo de Etsy, Inc. 2024, establecido el 12 de diciembre de 2024, como un incentivo material para Baker, quien se unió a la empresa el 1 de enero de 2025. Las unidades basadas en el rendimiento se ganarán según objetivos de rendimiento específicos establecidos por el Comité de Compensación de Etsy y se consolidarán durante un período de tres años, condicionado a la continuidad del empleo.
Etsy (NASDAQ: ETSY)는 새로운 최고 재무 책임자인 Lanny Baker를 위해 Nasdaq 상장 규칙 5635(c)(4)에 따라 중요한 유인 보상을 발표했습니다. 이 보상은 2025년 3월 17일에 발행되었으며, 45,064개의 성과 주식 단위(PSU)로 Etsy의 보통주로 구성됩니다.
PSU는 2024년 12월 12일에 설립된 Etsy, Inc. 2024 유인 계획에 따라 Baker를 위한 중요한 유인으로 제공되었습니다. Baker는 2025년 1월 1일에 회사에 합류했습니다. 성과 기반 단위는 Etsy의 보상 위원회에서 설정한 특정 성과 목표에 따라 획득되며, 지속적인 고용 조건에 따라 3년 동안 분할됩니다.
Etsy (NASDAQ: ETSY) a annoncé une importante attribution d'incitation conformément à la règle de cotation Nasdaq 5635(c)(4) pour son nouveau directeur financier, Lanny Baker. L'attribution, émise le 17 mars 2025, se compose de 45 064 unités d'actions de performance (PSUs) des actions ordinaires d'Etsy.
Les PSU ont été attribuées dans le cadre du Plan d'incitation Etsy, Inc. 2024, établi le 12 décembre 2024, en tant qu'incitation matérielle pour Baker, qui a rejoint l'entreprise le 1er janvier 2025. Les unités basées sur la performance seront acquises en fonction d'objectifs de performance spécifiques fixés par le comité de rémunération d'Etsy et seront acquises sur une période de trois ans, sous réserve d'un emploi continu.
Etsy (NASDAQ: ETSY) hat eine bedeutende Anreizgewährung gemäß der Nasdaq-Listing-Regel 5635(c)(4) für seinen neuen Finanzvorstand Lanny Baker angekündigt. Die Gewährung, die am 17. März 2025 ausgegeben wurde, besteht aus 45.064 Performance-Aktieneinheiten (PSUs) von Etsy's Stammaktien.
Die PSUs wurden im Rahmen des Etsy, Inc. 2024 Anreizplans gewährt, der am 12. Dezember 2024 eingerichtet wurde, als wesentlicher Anreiz für Baker, der am 1. Januar 2025 zum Unternehmen kam. Die leistungsbasierten Einheiten werden auf der Grundlage spezifischer Leistungsziele, die vom Vergütungsausschuss von Etsy festgelegt werden, verdient und über einen Zeitraum von drei Jahren fällig, abhängig von einer fortgesetzten Anstellung.
- New CFO appointment with performance-based compensation structure
- Implementation of performance-linked executive compensation plan
- Potential dilution of existing shareholders from new stock units
The awards were granted under the Etsy, Inc. 2024 Inducement Plan (the "2024 Inducement Plan") as a material inducement to Mr. Baker's entering into employment with Etsy, in accordance with Nasdaq Listing Rule 5635(c)(4). The performance stock units are earned based on Etsy's achievement of certain performance targets set by Etsy's Compensation Committee, and vest over a three year performance period subject to continued employment with Etsy through each vesting date. The performance stock units are subject to the terms and conditions of the 2024 Inducement Plan and the terms and conditions of a performance stock unit agreement covering the grant.
The 2024 Inducement Plan was adopted by Etsy's Board of Directors on December 12, 2024, and may only be used for grants to employees commencing employment with Etsy, or being rehired following a bona fide period of non-employment, and must provide a material inducement to entering into such employment, pursuant to Nasdaq Listing Rule 5635(c)(4).
About Etsy
Etsy, Inc. operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world. These marketplaces share a mission to "Keep Commerce Human," and we're committed to using the power of business and technology to strengthen communities and empower people. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. For sellers, we offer a range of tools and services that address key business needs.
Etsy, Inc.'s "House of Brands" portfolio also includes Reverb Holdings, Inc. our musical instrument marketplace, and Depop Limited, our fashion resale marketplace. Each Etsy, Inc. marketplace primarily operates independently, while benefiting from shared expertise in product development, marketing, technology, and customer support.
Etsy was founded in 2005 and is headquartered in
Etsy has used, and intends to continue using, its Investor Relations website and the Etsy News Blog (etsy.com/news) to disclose material non-public information and to comply with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website and the Etsy News Blog in addition to following our press releases, SEC filings, and public conference calls and webcasts.
Investor Relations Contact:
Deb Wasser, Vice President, Investor Relations
Sarah Marx, Director, Investor Relations
ir@etsy.com
Media Relations Contact:
Lauren Bayse, Sr. Director, Corporate Communications
press@etsy.com
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SOURCE Etsy, Inc.
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