Sharecare announces inducement grants under Nasdaq Listing Rule 5635(c)(4)
On June 19, 2024, Sharecare (NASDAQ: SHCR) announced the adoption of its 2024 Inducement Plan. The plan allows the company to grant inducement equity awards outside of its existing 2021 Omnibus Incentive Plan, targeting new employees or those rejoining after a period of non-employment. Up to 5,000,000 shares of common stock are allocated for this purpose. As of June 14, 2024, the Board has granted a total of 3,389,285 restricted stock units (RSUs) to five new employees. This includes 1,889,285 time-based RSUs and 1,500,000 performance-based RSUs. The RSUs will vest over three to four years, while the performance-based RSUs have a three-year performance period with cliff vesting, contingent on continuous employment and performance criteria.
- Sharecare adopted a new Inducement Plan allowing up to 5,000,000 shares for inducement equity awards.
- 3,389,285 restricted stock units were granted to five new employees, potentially enhancing workforce talent.
- The issuance of 5,000,000 shares under the Inducement Plan could lead to shareholder dilution.
ATLANTA, June 19, 2024 (GLOBE NEWSWIRE) -- Sharecare (NASDAQ: SHCR), the digital health company that helps people manage all their health in one place, today announced that on June 14, 2024, its Board of Directors (the “Board”) adopted the Sharecare, Inc. 2024 Inducement Plan (the “Inducement Plan”), under which the Company may grant inducement equity awards outside of the Sharecare, Inc. 2021 Omnibus Incentive Plan, as amended. The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee or non-employee director of the Company (or following a bona fide period of non-employment) as an inducement material to such individuals entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4). The Company allocated up to 5,000,000 shares of common stock of the Company to be subject to inducement equity awards under the Inducement Plan.
In addition, the Company announced that effective June 14, 2024, the Board has granted inducement equity awards under the Inducement Plan to five new employees. The five employees received a total of 3,389,285 restricted stock units, 1,889,285 of which are time-based restricted stock units (“RSUs”) and 1,500,000 of which are performance-based restricted stock units (“PSUs”). The RSUs vest over three or four years, subject to each employee’s continuous employment on each vesting date. The PSUs granted to one of the new employees provide for cliff vesting at the end of the three-year performance period, with the number of shares to be issued based on annual achievement of defined performance-based vesting conditions and will be subject to the employee’s continuous employment through the vesting date. Other terms of the RSU and PSU grants and any additional grants under the Inducement Plan are as determined by the Board or Compensation Committee and are as set forth in the Inducement Plan and applicable award agreements covering each grant.
For more information, visit investors.sharecare.com.
About Sharecare
Sharecare is the leading digital health company that helps people – no matter where they are in their health journey – unify and manage all their health in one place. Our comprehensive and data-driven virtual health platform is designed to help people, providers, employers, health plans, government organizations, and communities optimize individual and population-wide well-being by driving positive behavior change. Driven by our philosophy that we are all together better, at Sharecare, we are committed to supporting each individual through the lens of their personal health and making high-quality care more accessible and affordable for everyone. To learn more, visit www.sharecare.com.
| Contacts: | |
| Media: pr@sharecare.com | Investors: investors@sharecare.com |
FAQ
What is the Sharecare 2024 Inducement Plan?
How many shares are allocated under the Sharecare 2024 Inducement Plan?
What types of restricted stock units were granted under the Sharecare 2024 Inducement Plan?
When was the Sharecare 2024 Inducement Plan adopted?
What are the vesting conditions for the RSUs granted under Sharecare's Inducement Plan?
How might the Sharecare 2024 Inducement Plan affect shareholders?
