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

Rhea-AI Summary

LivePerson, Inc. (LPSN) announces inducement equity grants to new CEO John Sabino, including 3,354,839 RSUs and an option for 1,000,000 shares. The RSUs vest over two years, with the option tied to performance metrics. These grants are essential to Mr. Sabino's employment agreement.

NEW YORK, March 25, 2024 /PRNewswire/ -- LivePerson, Inc. (Nasdaq: LPSN) is providing confirmatory notice, pursuant to the requirements of Nasdaq Listing Rule 5635(c)(4), of recent inducement equity-based incentive grants that LivePerson made to John Sabino, LivePerson's new Chief Executive Officer, in connection with his hiring effective January 10, 2024.

Pursuant to the terms of his employment agreement, on March 15, 2024, LivePerson granted to Mr. Sabino equity awards consisting of 3,354,839 RSUs, and an option to purchase 1,000,000 shares of LivePerson's common stock. 774,194 of the RSUs will vest annually in equal tranches over two years, and 2,580,645 of the RSUs will vest as to 25% on the first anniversary of the date of grant and the remaining will vest in quarterly installments over the three years following such date. The stock option will become exercisable when certain performance and time-based metrics are met. Each of the equity awards is subject to Mr. Sabino's continued employment on the scheduled vesting dates, and all of the equity awards were granted as an inducement material to Mr. Sabino entering into employment with LivePerson.

About LivePerson

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.

CONTACT:
Mike Tague
mtague@liveperson.com

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SOURCE LivePerson, Inc.

FAQ

What is the recent announcement made by LivePerson, Inc. (LPSN) regarding inducement equity grants?

LivePerson, Inc. (LPSN) has provided confirmatory notice of recent inducement equity-based incentive grants made to John Sabino, the new Chief Executive Officer, in connection with his hiring effective January 10, 2024.

How many RSUs were granted to John Sabino by LivePerson, Inc. (LPSN)?

John Sabino received 3,354,839 RSUs from LivePerson, Inc. (LPSN) as part of the equity awards.

What is the vesting schedule for the RSUs granted to John Sabino by LivePerson, Inc. (LPSN)?

774,194 of the RSUs will vest annually in equal tranches over two years, while 2,580,645 RSUs will vest as to 25% on the first anniversary of the grant date and the remaining will vest in quarterly installments over the three years following the grant date.

How many shares does the stock option granted to John Sabino by LivePerson, Inc. (LPSN) allow him to purchase?

John Sabino's stock option granted by LivePerson, Inc. (LPSN) enables him to purchase 1,000,000 shares of LivePerson's common stock.

What conditions need to be met for John Sabino's stock option to become exercisable according to LivePerson, Inc. (LPSN)?

The stock option granted to John Sabino by LivePerson, Inc. (LPSN) will become exercisable when certain performance and time-based metrics are achieved.