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Everbridge Issues New Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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Everbridge, Inc. (EVBG) announced the approval of inducement awards for two new employees under the 2022 Inducement Plan. The awards consist of 175,000 restricted stock units and 115,000 performance stock units. David Rockvam, the new EVP and CFO, received 115,000 RSUs and 115,000 PSUs, while Ryan Allphin, the new SVP of Engineering and CTO, received 60,000 RSUs. The awards are subject to vesting conditions over four years.
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BURLINGTON, Mass.--(BUSINESS WIRE)--
Everbridge, Inc. (Nasdaq: EVBG), the global leader in critical event management (CEM) and national public warning solutions, today 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 175,000 restricted stock units (“RSUs”) and 115,000 performance stock units (“PSUs”) to two new employees, pursuant to the Everbridge, Inc. 2022 Inducement Plan. Awards of 115,000 RSUs and 115,000 PSUs were granted on March 7, 2024 to David Rockvam, the newly appointed Executive Vice President and Chief Financial Officer. Awards of 60,000 RSUs were also granted on March 7, 2024 to Ryan Allphin the newly appointed Senior Vice President of Engineering and CTO of CEM and Digital Products and Platforms. The awards are subject to all terms and conditions and other provisions set forth in the Plan and the award agreements thereunder.
The Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Everbridge, or following a bona fide period of non-employment, as an inducement material to such individuals entering into employment with Everbridge, pursuant to Nasdaq Listing Rule 5635(c)(4).
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. The PSUs will vest based on performance measures determined by Everbridge’s Board of Directors or Compensation Committee at the time of grant.
About Everbridge
Everbridge (Nasdaq: EVBG) empowers enterprises and government organizations to anticipate, mitigate, respond to, and recover stronger from critical events. In today’s unpredictable world, resilient organizations minimize impact to people and operations, absorb stress, and return to productivity faster when deploying critical event management (CEM) technology. Everbridge digitizes organizational resilience by combining intelligent automation with the industry’s most comprehensive risk data to Keep People Safe and Organizations Running™. For more information, visit https://www.everbridge.com/, read the company blog, and follow on LinkedIn. Everbridge… Empowering Resilience.
