Everbridge Appoints Bryan Barney as Chief Product Officer and Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Everbridge has appointed Bryan Barney as its new Chief Product Officer, effective immediately. Barney brings over 30 years of experience in enterprise software and cybersecurity, previously serving as CEO of RedSeal and holding key positions at Symantec and McAfee. His focus will be on enhancing Everbridge's global product development strategy for critical event management solutions. Additionally, the company approved stock inducements for Barney and other new hires, aligning their compensation with performance goals.

Positive

• Appointment of Bryan Barney as Chief Product Officer brings extensive industry experience.
• Barney's leadership expected to enhance Everbridge's product development and innovation.
• Approval of restricted stock units (RSUs) and performance stock units (PSUs) aligns incentives with company performance.

Negative

• None.

Addition of veteran, software-as-a-service (SaaS) executive bolsters Everbridge’s global product team and commitment to building the leading platform for organizational resilience

BURLINGTON, Mass.--(BUSINESS WIRE)-- Everbridge, Inc. (NASDAQ: EVBG), the global leader in critical event management (CEM) and national public warning software solutions, today announced the appointment of Bryan Barney as Chief Product Officer, responsible for leading the company’s global product development strategy.

Everbridge Appoints Bryan Barney as Chief Product Officer (Photo: Business Wire)

With over 30 years’ experience in enterprise software and 20 years in cybersecurity leadership, Mr. Barney has led product research and development for some of the largest security organizations in the world. Mr. Barney joins Everbridge, effective immediately, and reports to Chief Executive Officer David Wagner.

“Bryan is a seasoned technology executive with extensive experience building world-class teams and world-class software products,” said Mr. Wagner. “As we continue to expand on the extensibility of our platform though APIs and data integration, Bryan’s background in cloud solutions and security resilience will be instrumental to the growth of our offerings and innovation for customers and partners.”

Prior to Everbridge, Mr. Barney served as Chief Executive Officer of RedSeal, a leading cloud software and analytics provider helping government agencies and Global 2000 companies measurably reduce cyber risk. Before RedSeal, Mr. Barney led Symantec’s Enterprise Security Group through its transition from a traditional security company to leading cloud services organization as General Manager and SVP. Prior to Symantec, he was GM and SVP of the Network Security Group at Sophos where he expanded the network security business and helped the company go public. Mr. Barney also spent 13 years at McAfee, serving as EVP and head of product development for the company’s broad security portfolio. He holds a BS in electrical and electronics engineering and an MBA, both from Brigham Young University.

“Everbridge is synonymous with organizational resilience and continues to innovate and deliver differentiated capabilities for the world’s leading brands,” said Mr. Barney. “I am excited to join Everbridge, a company with a strong mission and passion for digitizing organizational resilience to truly help save lives and keep businesses running.”

The Company also announced that the Compensation Committee of the Board of Directors of the Company approved inducement awards under Nasdaq Listing Rule 5635(c)(4) consisting of 128,745 restricted stock units (“RSUs”) and 193,118 performance stock units (“PSUs”) to two new employees, pursuant to the Everbridge, Inc. 2022 Inducement Plan. Awards of 100,000 RSUs and 28,745 RSUs were granted on December 30, 2022 to Mr. Barney and Noah Webster, the Company’s new Chief Legal & Compliance Officer, respectively. The RSUs will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the applicable vesting commencement date, and 75% of the underlying shares vesting in equal installments over the next twelve calendar quarters, with the first such installment vesting on the date which is three months after the initial vesting date. Awards of 150,000 PSUs and 43,118 PSUs will be granted to Mr. Barney and Mr. Webster, respectively, in Q1 2023, subject to the recipient’s continued employment on the grant date, and will vest based on performance measures determined by Everbridge’s Board of Directors at the time of grant.

About Everbridge
Everbridge, Inc. (NASDAQ: EVBG) is a global software company that provides enterprise software applications that automate and accelerate organizations’ operational response to critical events in order to Keep People Safe and Organizations Running™. During public safety threats such as active shooter situations, terrorist attacks or severe weather conditions, as well as critical business events including IT outages, cyber-attacks, product recalls or supply-chain interruptions, over 6,400 customers in 76 countries rely on the Company’s Critical Event Management Platform to quickly and reliably aggregate and assess threat data, locate people at risk and responders able to assist, automate the execution of pre-defined communications processes through the secure delivery to over 100 different communication modalities, and track progress on executing response plans. For more information, visit www.everbridge.com, read the company blog, and follow on Twitter and Facebook.

Cautionary Language Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the anticipated opportunity and trends for growth in our critical communications and enterprise safety applications and our overall business, our market opportunity, our expectations regarding sales of our products, our goal to maintain market leadership and extend the markets in which we compete for customers, and anticipated impact on financial results. These forward-looking statements are made as of the date of this press release and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as “expect,” “anticipate,” “should,” “believe,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “could,” “intend,” variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the ability of our products and services to perform as intended and meet our customers’ expectations; our ability to successfully integrate businesses and assets that we may acquire; our ability to attract new customers and retain and increase sales to existing customers; our estimates of market opportunity and forecasts of market growth may prove to be inaccurate; we have not been profitable on a consistent basis historically and may not achieve or maintain profitability in the future; the lengthy and unpredictable sales cycles for new customers; nature of our business exposes us to inherent liability risks; our ability to attract, integrate and retain qualified personnel; our ability to manage our growth effectively; our ability to respond to competitive pressures; potential liability related to privacy and security of personally identifiable information; any unanticipated factors, that may cause the Company’s actual results and outcomes to materially differ from its projections and guidance; and the other risks detailed in our risk factors discussed in filings with the U.S. Securities and Exchange Commission (“SEC”), including but not limited to our Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on February 25, 2022, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022, June 30, 2022 and September 30, 2022, filed with the SEC on May 9, 2022, August 9, 2022, and November 8, 2022, and other subsequent filings with the SEC. The forward-looking statements included in this press release represent our views as of the date of this press release. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

All Everbridge products are trademarks of Everbridge, Inc. in the USA and other countries. All other product or company names mentioned are the property of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230104005599/en/

Media Contact:

Jeff Young

jeff.young@everbridge.com

781-859-4116

Investor Contact:

Nandan Amladi

nandan.amladi@everbridge.com

617-665-7197

Source: Everbridge, Inc.

FAQ

Who is the new Chief Product Officer of Everbridge?

Bryan Barney has been appointed as the Chief Product Officer of Everbridge.

What experience does Bryan Barney bring to Everbridge?

Bryan Barney has over 30 years of experience in enterprise software and cybersecurity, previously leading product development at major companies.

What stock inducements were approved for new employees at Everbridge?

Everbridge approved 128,745 RSUs and 193,118 PSUs under its 2022 Inducement Plan for new hires, including Bryan Barney.

What is the impact of Bryan Barney's appointment on Everbridge's product strategy?

Barney's appointment is expected to strengthen Everbridge's global product development strategy, enhancing the company's offerings.