Inspirato Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Inspirato Incorporated (NASDAQ: ISPO), a luxury travel club, has announced the approval of equity awards for its newly-hired Chairman and CEO, Payam Zamani. The grants, made under the company's 2024 Inducement Award Plan, include 500,000 time-based restricted stock units (RSUs) and 500,000 performance-based restricted stock units (PSUs). The RSUs will vest over four years, with 25% vesting on August 13, 2025, and the remaining 75% vesting quarterly over the next three years. The PSUs will vest if Inspirato's Class A Common Stock reaches a closing price of $15 per share or more for 30 consecutive days before August 14, 2025. These grants are part of Zamani's employment agreement and are subject to his continued service with the company.
Inspirato Incorporated (NASDAQ: ISPO), un club di viaggi di lusso, ha annunciato l'approvazione di premi in equity per il suo nuovo Presidente e CEO, Payam Zamani. I conferimenti, effettuati nell'ambito del Piano di Premi di Induzione 2024 dell'azienda, includono 500.000 unità azionarie vincolate nel tempo (RSU) e 500.000 unità azionarie vincolate alle performance (PSU). Le RSU si matureranno in quattro anni, con il 25% che si matura il 13 agosto 2025 e il restante 75% che si matura trimestralmente nei successivi tre anni. Le PSU si matureranno se le azioni ordinarie di Classe A di Inspirato raggiungono un prezzo di chiusura di $15 per azione o più per 30 giorni consecutivi prima del 14 agosto 2025. Questi premi fanno parte del contratto di lavoro di Zamani e sono soggetti alla sua continua presenza in azienda.
Inspirato Incorporated (NASDAQ: ISPO), un club de viajes de lujo, ha anunciado la aprobación de premios en acciones para su recién contratado Presidente y CEO, Payam Zamani. Las concesiones, realizadas bajo el Plan de Premios de Inducción 2024 de la compañía, incluyen 500,000 unidades de acciones restringidas basadas en tiempo (RSUs) y 500,000 unidades de acciones restringidas basadas en rendimiento (PSUs). Las RSUs se consolidarán durante cuatro años, con el 25% consolidándose el 13 de agosto de 2025, y el 75% restante consolidándose trimestralmente en los siguientes tres años. Las PSUs se consolidarán si las acciones ordinarias de Clase A de Inspirato alcanzan un precio de cierre de $15 por acción o más durante 30 días consecutivos antes del 14 de agosto de 2025. Estas concesiones son parte del contrato de empleo de Zamani y están sujetas a su servicio continuo en la empresa.
Inspirato Incorporated (NASDAQ: ISPO), 고급 여행 클럽이, 새로 고용된 회장 겸 CEO인 Payam Zamani의 주식 보상 승인을 발표했습니다. 이 보상은 회사의 2024 보상 유도 계획에 따라 이루어지며, 500,000개의 시간 기반 제한 주식 단위(RSU)와 500,000개의 성과 기반 제한 주식 단위(PSU)가 포함됩니다. RSU는 4년 동안 배분되며, 25%는 2025년 8월 13일에 배분되고, 나머지 75%는 다음 3년 동안 분기별로 배분됩니다. PSU는 Inspirato의 A 클래스 보통 주식이 2025년 8월 14일 이전에 30일 연속으로 주당 $15 이상의 종가에 도달했을 때 배분됩니다. 이러한 보상은 Zamani의 고용 계약의 일부이며, 회사에서 계속 근무하는 조건에 따라 다릅니다.
Inspirato Incorporated (NASDAQ: ISPO), un club de voyages de luxe, a annoncé l'approbation de récompenses en actions pour son nouveau président-directeur général, Payam Zamani. Les attributions, effectuées dans le cadre du Plan de Prix de Déclenchement 2024 de la société, comprennent 500 000 unités d'actions restreintes basées sur le temps (RSU) et 500 000 unités d'actions restreintes basées sur les performances (PSU). Les RSU acquerront droit sur une période de quatre ans, avec 25 % acquérant droit le 13 août 2025 et les 75 % restants acquérant droit par trimestres au cours des trois années suivantes. Les PSU acquerront droit si les actions ordinaires de Classe A d'Inspirato atteignent un prix de clôture de 15 $ par action ou plus pendant 30 jours consécutifs avant le 14 août 2025. Ces attributions font partie de l'accord d'emploi de Zamani et sont soumises à son service continu au sein de l'entreprise.
Inspirato Incorporated (NASDAQ: ISPO), ein Luxusreiseklubs, hat die Genehmigung von Aktienvergütungen für seinen neu eingestellten Vorsitzenden und CEO, Payam Zamani, bekannt gegeben. Die Gewährungen, die im Rahmen des Vergütungsplans für 2024 des Unternehmens vorgenommen wurden, umfassen 500.000 zeitbasierte Restricted Stock Units (RSUs) und 500.000 leistungsbasierte Restricted Stock Units (PSUs). Die RSUs werden über einen Zeitraum von vier Jahren fällig, wobei 25% am 13. August 2025 fällig werden und die verbleibenden 75% in den nächsten drei Jahren vierteljährlich fällig werden. Die PSUs werden fällig, wenn die Class A Stammaktien von Inspirato einen Schlusskurs von 15 $ pro Aktie oder mehr für 30 aufeinanderfolgende Tage vor dem 14. August 2025 erreichen. Diese Gewährungen sind Teil von Zamanis Arbeitsvertrag und hängen von seinem fortgesetzten Dienstverhältnis mit dem Unternehmen ab.
- Appointment of new Chairman and CEO, potentially bringing fresh leadership and strategy
- Implementation of performance-based incentives for new CEO, aligning interests with shareholders
- Potential dilution of existing shareholders due to the issuance of 1 million new stock units
Insights
The appointment of a new CEO and Chairman, Payam Zamani, with substantial equity incentives signals Inspirato's commitment to aligning leadership interests with shareholder value. The
The equity grants to Payam Zamani comply with Nasdaq Listing Rule 5635(c)(4), which allows for inducement grants outside of shareholder-approved equity plans. This regulatory compliance is crucial for maintaining Inspirato's Nasdaq listing. The structure of the awards, particularly the performance-based PSUs, aligns with best practices in executive compensation by tying rewards to shareholder returns. However, the one-year timeframe for achieving the
Inspirato's decision to bring in new leadership with significant equity incentives reflects the company's need for a turnaround strategy in the luxury travel sector. The ambitious stock price target of
DENVER, Aug. 16, 2024 (GLOBE NEWSWIRE) -- Inspirato Incorporated (“Inspirato” or the “Company”) (NASDAQ: ISPO), the innovative luxury travel club, today announced its Board of Directors approved the grant of equity awards on August 13, 2024 as a material inducement to the employment of newly-hired Chairman and CEO, Payam Zamani. The grants were made under the Company’s 2024 Inducement Award Plan (the “Inducement Plan”) in accordance with Nasdaq Listing Rule 5635(c)(4).
In connection with Mr. Zamani’s appointment as Chairman and CEO on August 12, 2024, Inspirato granted inducement awards consisting of (a) 500,000 time-based restricted stock units (“RSUs”) and (b) 500,000 performance-based restricted stock units (“PSUs”), each with an effective grant date of August 13, 2024 and subject to the continued service with Inspirato. The RSUs will vest over four years with
Each RSU and PSU is subject to the terms and conditions of the Inducement Plan and the terms and conditions of the RSU agreement covering the grant.
About Inspirato
Inspirato (NASDAQ: ISPO) is a luxury travel company that provides exclusive access to a managed and controlled portfolio of curated vacation options, delivered through an innovative model designed to ensure the service, certainty, and value that discerning customers demand. The Inspirato portfolio includes branded luxury vacation homes, accommodations at five-star hotel and resort partners, and custom travel experiences. For more information, visit www.inspirato.com and follow @inspirato on Instagram, Facebook, X, and LinkedIn.
Contacts:
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FAQ
What equity awards did Inspirato (ISPO) grant to its new CEO?
When will the RSUs granted to Inspirato's (ISPO) new CEO vest?
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When was Payam Zamani appointed as Chairman and CEO of Inspirato (ISPO)?
