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

Rhea-AI Summary

LivePerson, Inc. (Nasdaq: LPSN) reported recent grants of equity-based incentive awards under the Inducement Plan for new hires. The grants included 22 grants of restricted stock units (RSUs) totaling 1,367,572 shares of Common Stock. These awards were made between June 1, 2023, and April 30, 2024. The RSUs vest over 4 years or 2 years, depending on the grant date, subject to continued employment.

NEW YORK, May 10, 2024 /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 the LivePerson Inc. 2018 Inducement Plan (the "Inducement Plan").

LivePerson established 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, LivePerson made grants under the Inducement Plan on various dates in connection with recent employee hires which occurred between June 1, 2023 and April 30, 2024.

Such grants included 22 grants of restricted stock units ("RSUs") in respect of an aggregate of 1,367,572 shares of LivePerson's common stock ("Common Stock"), including a grant of RSUs on October 18, 2023, to Jeffrey Ford, LivePerson's Chief Accounting Officer, in respect of 240,642 shares of Common Stock. Not included in the above figures are the equity-based incentive awards granted to John Sabino, LivePerson's Chief Executive Officer, that were previously reported in a press release dated March 25, 2024.

The RSUs granted in June 2023 through January 2024 vest 25% per year over 4 years, subject to each grantee's continued employment on the scheduled vesting date. The RSUs granted in March 2024 and April 2024 vest 50% per year over 2 years, subject to each grantee's continued employment on the scheduled vesting date.

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

About LivePerson, Inc.

LivePerson (NASDAQ: LPSN) is the enterprise leader in digital customer conversations. The world's leading brands — including HSBC, Chipotle, and Virgin Media — use our award-winning Conversational Cloud platform to connect with millions of consumers. We power nearly a billion conversational interactions every month, providing a uniquely rich data set and AI-powered solutions to accelerate contact center transformation, supercharge agent productivity, and deliver more personalized customer experiences. Fast Company named us the #1 Most Innovative AI Company in the world. To talk with us or our AI, please visit liveperson.com.

Investor Contact:

ir-lp@liveperson.com 

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SOURCE LivePerson, Inc.

FAQ

How many grants of restricted stock units were made by LivePerson under the Inducement Plan?

LivePerson made 22 grants of restricted stock units totaling 1,367,572 shares of Common Stock.

When were the recent equity-based incentive awards granted by LivePerson?

The awards were granted between June 1, 2023, and April 30, 2024.

What is the vesting schedule for the RSUs granted by LivePerson?

RSUs granted between June 2023 and January 2024 vest 25% per year over 4 years, while those granted in March and April 2024 vest 50% per year over 2 years.

Who received a grant of RSUs in respect of 240,642 shares of Common Stock on October 18, 2023?

Jeffrey Ford, LivePerson's Chief Accounting Officer, received the grant.

What was the purpose of establishing the Inducement Plan by LivePerson?

The Inducement Plan was established to provide equity-based incentive awards to new hires.

Which executive's equity-based incentive awards were not included in the recent grants?

John Sabino, LivePerson's Chief Executive Officer, had previously received equity-based incentive awards that were not included in these recent grants.