LivePerson Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

On December 10, 2021, LivePerson (NASDAQ: LPSN) announced confirmatory notice regarding equity-based incentive awards under its Inducement Plan. Recent grants were made to 8 employees in April, totaling 20,300 shares, and continued through November, culminating in grants to 23 employees for 77,300 shares, among others. These awards are designed to attract new hires and vest over four years. The company aims to enhance its workforce amid growth to drive its Conversational AI solutions, benefiting 18,000 customers globally.

Positive

• Equity-based incentive awards to new hires may strengthen workforce.
• Continued hiring indicates growth potential and confidence in the market.

Negative

• Heavy reliance on stock options may dilute existing shareholder value.

NEW YORK, Dec. 10, 2021 /PRNewswire/ -- LivePerson, Inc. (Nasdaq: LPSN) is providing confirmatory notice, in compliance with the requirements of Nasdaq Listing Rule 5635(c)(4), of recent grants of equity-based incentive awards that LivePerson made under its Inducement Plan. 

LivePerson established the LivePerson Inc. 2018 Inducement Plan (the "Inducement Plan") for the purpose of providing equity-based incentive awards to new hires, and has done so during active periods of hiring.  As such, in association with recent growth of the company, LivePerson has made grants under the Inducement Plan on various dates in connection with recent employee hires which occurred between April 7, 2021 and November 23, 2021, which grants included the following: (A) in April, grants of restricted stock units ("RSUs") to a total of 8 employees in respect of an aggregate of 20,300 shares of common stock of LivePerson ("Shares"), (B) in May, grants of RSUs to a total of 9 employees in respect of an aggregate of 17,010 Shares and a grant of stock options to 1 employee in respect of an aggregate of 4,200 Shares, (C) in June, grants of RSUs to a total of 13 employees in respect of an aggregate of 27,150 Shares and grants of stock options to 4 employees in respect of an aggregate of 8,300 Shares, (D) in July, grants of RSUs to a total of 32 employees in respect of 157,930 Shares and grants of stock options to 7 employees in respect of an aggregate of 179,800 Shares, (E) in August, grants of RSUs to a total of 21 employees in respect of 57,900 Shares and grants of stock options to 4 employees in respect of an aggregate of 23,100 Shares, (F) in September, grants of RSUs to a total of 24 employees in respect of 66,980 Shares and grants of stock options to 6 employees in respect of an aggregate of 43,700 Shares, (G) in October, grants of RSUs to a total of 87 employees in respect of 416,070 Shares and grants of stock options to 13 employees in respect to an aggregate of 166,500 Shares, and (H) in November, grants of RSUs to a total of 23 employees in respect of 77,300 Shares and grants of stock options to 5 employees in respect to an aggregate of 50,800 Shares. All RSU and stock option grants vest 25% per year over 4 years and are subject to the grantee's continued employment on the scheduled vesting date.

Each award under the Inducement Plan was granted as an inducement material to the grantee's entering into employment with the Company.

About LivePerson, Inc.

LivePerson makes life easier for people and brands everywhere through trusted Conversational AI. Our 18,000 customers, including leading brands like HSBC, Orange, and GM Financial, use our conversational solutions to orchestrate humans and AI at scale and create a convenient, deeply personal relationship — a conversational relationship — with their millions of consumers. LivePerson has been named to Fast Company's World's Most Innovative Companies list for its leadership in artificial intelligence. For more information about LivePerson (NASDAQ: LPSN), please visit www.liveperson.com.

Investor Contact:

Richard Gu
ir-lp@liveperson.com
212-609-4214

View original content to download multimedia:https://www.prnewswire.com/news-releases/liveperson-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-301442564.html

SOURCE LivePerson, Inc.

FAQ

What is LivePerson's stock symbol?

LivePerson's stock symbol is LPSN.

What was announced in LivePerson's press release on December 10, 2021?

LivePerson announced the issuance of equity-based incentive awards under its Inducement Plan.

How many shares were granted in the recent inducement awards by LivePerson?

The recent inducement awards included grants totaling over 1 million shares across various months.

What is the purpose of LivePerson's Inducement Plan?

The Inducement Plan is designed to provide equity-based incentive awards to new hires.

What is the vesting schedule for LivePerson's stock options?

The stock options vest 25% per year over four years, contingent on continued employment.