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

Rhea-AI Summary

LivePerson (Nasdaq: LPSN) announced the issuance of equity-based incentive awards under its 2018 Inducement Plan, compliant with Nasdaq Listing Rule 5635(c)(4). On June 21, 2024, LivePerson granted restricted stock units (RSUs) totaling 1,300,000 shares of common stock, including a significant grant of 1,000,000 shares to the Chief Revenue Officer. The RSUs have varying vesting schedules: three grants vest 50% annually over two years, while one grant vests 100% after one year. All grants are contingent on continued employment. The awards aim to attract and retain new hires.

Positive

• LivePerson granted a significant number of RSUs (1,300,000 shares) to attract and retain key talent.
• A notable grant of 1,000,000 shares was made to the Chief Revenue Officer, emphasizing leadership support.

Negative

• The substantial issuance of RSUs could potentially dilute existing shareholders' equity.
• The RSUs' dependency on continued employment introduces risk if key employees leave before vesting.

NEW YORK, June 28, 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 June 21, 2024 in connection with recent employee hires.

Such grants included four grants of restricted stock units ("RSUs") in respect of an aggregate of 1,300,000 shares of LivePerson's common stock ("Common Stock"), including a grant to LivePerson's Chief Revenue Officer, in respect of 1,000,000 shares of Common Stock.

Three of the RSU grants consist of RSUs that vest 50% per year over two years, and one of the RSU grants consists of RSUs that vest 100% on the one-year anniversary of the date of grant.

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

View original content to download multimedia:https://www.prnewswire.com/news-releases/liveperson-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-302185152.html

SOURCE LivePerson, Inc.

FAQ

What did LivePerson announce on June 28, 2024?

LivePerson announced equity-based incentive awards under its 2018 Inducement Plan in compliance with Nasdaq Listing Rule 5635(c)(4).

How many restricted stock units did LivePerson grant?

LivePerson granted an aggregate of 1,300,000 restricted stock units (RSUs).

Who received the significant RSU grant from LivePerson?

LivePerson's Chief Revenue Officer received a significant grant of 1,000,000 shares of common stock.

What are the vesting schedules for the RSUs granted by LivePerson?

Three RSU grants vest 50% annually over two years, and one grant vests 100% after one year.

Why are the RSUs granted by LivePerson contingent on employment?

The RSUs are designed to attract and retain talent, so they are contingent on continued employment until the scheduled vesting date.