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

Rhea-AI Summary

LivePerson, Inc. (Nasdaq: LPSN) has issued a notice regarding recent equity-based incentive awards granted under its 2018 Inducement Plan. This plan is designed to provide equity incentives to new hires during active hiring periods. In August 2024, the company made grants in connection with recent employee hires, including:

- Two grants of restricted stock units (RSUs) totaling 66,000 shares of LivePerson's common stock
- RSUs vest 50% per year over two years
- Vesting is subject to the grantee's continued employment
- Awards were granted as inducements for new employees joining the company

This notice complies with Nasdaq Listing Rule 5635(c)(4), which requires disclosure of such inducement grants.

Positive

• Continued hiring and talent acquisition efforts
• Implementation of equity-based incentives to attract new employees

Negative

• Potential dilution of existing shareholders due to new stock grants

NEW YORK, Aug. 30, 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. In August 2024, LivePerson made grants under the Inducement Plan in connection with recent employee hires.

Such grants included two grants of restricted stock units ("RSUs") in respect of an aggregate of 66,000 shares of LivePerson's common stock. For each grant, the RSUs vest 50% per year over two years. All of the RSU grants are subject to the 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 restricted stock units (RSUs) did LivePerson (LPSN) grant in August 2024?

LivePerson (LPSN) granted two RSU awards totaling 66,000 shares of common stock in August 2024.

What is the vesting schedule for the RSUs granted by LivePerson (LPSN) in August 2024?

The RSUs granted by LivePerson (LPSN) in August 2024 vest 50% per year over two years, subject to the grantee's continued employment.

Why did LivePerson (LPSN) issue these equity-based incentive awards?

LivePerson (LPSN) issued these awards as inducements for new employees joining the company, using its 2018 Inducement Plan designed for equity-based incentives during active hiring periods.

Which Nasdaq rule does LivePerson's (LPSN) notice comply with regarding these inducement grants?

LivePerson's (LPSN) notice complies with Nasdaq Listing Rule 5635(c)(4), which requires disclosure of equity-based inducement grants to new hires.