RealNetworks Announces Inducement Awards Pursuant to NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

On March 16, 2021, RealNetworks (Nasdaq: RNWK) approved an equity award for its new Chief Financial Officer, Christine Chambers, under the 2020 Inducement Equity Plan. The award includes an option to purchase 125,000 shares and 80,000 restricted stock units (RSUs), vesting over time. The equity plan targets new employees to encourage their acceptance of positions within the company, complying with NASDAQ's requirements. RealNetworks focuses on AI and machine learning in digital media, with products like SAFR and Kontxt aimed at enhancing security and multimedia analysis.

Positive

• New CFO Christine Chambers awarded significant equity, promoting long-term commitment.
• Equity awards include 125,000 stock options and 80,000 RSUs, enhancing employee incentives.

Negative

• None.

SEATTLE, March 17, 2021 /PRNewswire/ -- RealNetworks, Inc. (Nasdaq: RNWK) today announced that on March 16, 2021, the Compensation Committee of the RealNetworks Board of Directors approved an equity award to one new employee under RealNetworks' 2020 Inducement Equity Plan.

The 2020 Inducement Equity Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee or non-employee director of RealNetworks (or following a bona fide period of non-employment), as an inducement material to such individual's entering into employment with RealNetworks, pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules.

The award, granted to the Company's new Chief Financial Officer Christine Chambers, was comprised of an option to acquire 125,000 shares of the Company's common stock and 80,000 restricted stock units, or RSUs. The option and RSUs represent new-hire equity awards that will vest as to 25% on February 22, 2022, with an additional 12.5% vesting every six months thereafter, subject in all cases to the recipient remaining an employee of the Company through the applicable vesting date. The equity awards are subject to the terms and conditions of the RealNetworks 2020 Inducement Equity Plan, and the terms and conditions of equity award agreements covering the grants.

About RealNetworks
Building on a rich history of digital media expertise and innovation, RealNetworks has created a new generation of products that employ best-in-class artificial intelligence and machine learning to enhance and secure our daily lives. Real's portfolio includes SAFR, the world's premier computer vision platform for live video, Kontxt, an industry leading NLP (Natural Language Processing) platform for text and multi-media analysis, and leveraging its digital media expertise, a mobile games business focused on the large free-to-play segment. For information about all of our products, visit www.realnetworks.com.

RealNetworks is a registered trademark of RealNetworks, Inc. All other trademarks, names of actual companies and products mentioned herein are the property of their respective owners.

For More Information:

Investor Relations for RealNetworks
Kimberly Orlando, Addo Investor Relations
310-829-5400
IR@realnetworks.com
RNWK-F

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SOURCE RealNetworks, Inc.

FAQ

What equity award did RealNetworks grant to Christine Chambers?

RealNetworks granted Christine Chambers an equity award including an option for 125,000 shares and 80,000 restricted stock units (RSUs).

When do the equity awards for RealNetworks' new CFO vest?

The equity awards will vest 25% on February 22, 2022, with an additional 12.5% vesting every six months thereafter.

What is RealNetworks' 2020 Inducement Equity Plan?

The 2020 Inducement Equity Plan is designed for granting equity awards to new employees as an incentive for joining RealNetworks.

Under what NASDAQ rule is RealNetworks' equity award granted?

The equity award was granted pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules.

What does RealNetworks focus on in its product offerings?

RealNetworks focuses on products utilizing artificial intelligence and machine learning for digital media and security.