SmartRent Reports Inducement Grants Under New York Stock Exchange Listed Company Manual Rule
SmartRent (NYSE: SMRT) has announced inducement awards granted to their new President and CEO Michael Shane Paladin under the company's 2025 Inducement Equity Incentive Plan. The compensation package includes:
- 1,790,055 time-based restricted stock units (RSUs) of Class A common stock, vesting one-third annually over three years
- 2,320,441 performance stock units (PSUs) as target, with potential 200% maximum based on stock price performance over five years
The PSUs will vest based on company stock price achievements during a five-year performance period, with 50% vesting at four years and the remaining at five years, subject to continued employment. These awards were granted as material inducement for Paladin's employment in accordance with NYSE Listed Company Manual Rule 303A.08.
SmartRent (NYSE: SMRT) ha annunciato premi di indennizzo concessi al nuovo Presidente e CEO Michael Shane Paladin nell'ambito del Piano di Incentivazione Azionaria per il 2025 dell'azienda. Il pacchetto retributivo include:
- 1.790.055 unità azionarie a tempo (RSU) di azioni ordinarie di Classe A, con un terzo che matura annualmente per tre anni
- 2.320.441 unità azionarie legate alla performance (PSU) come obiettivo, con un massimo potenziale del 200% basato sulla performance del prezzo delle azioni nel corso di cinque anni
Le PSU matureranno in base ai risultati del prezzo delle azioni dell'azienda durante un periodo di performance di cinque anni, con il 50% che matura dopo quattro anni e il restante dopo cinque anni, soggetto a continuazione dell'impiego. Questi premi sono stati concessi come indennizzo materiale per l'impiego di Paladin in conformità con la Regola 303A.08 del Manuale delle Aziende quotate NYSE.
SmartRent (NYSE: SMRT) ha anunciado premios de inducción otorgados a su nuevo Presidente y CEO Michael Shane Paladin bajo el Plan de Incentivo de Capital de Inducción 2025 de la compañía. El paquete de compensación incluye:
- 1,790,055 unidades de acciones restringidas basadas en el tiempo (RSUs) de acciones comunes de Clase A, que se consolidan un tercio anualmente durante tres años
- 2,320,441 unidades de acciones basadas en el rendimiento (PSUs) como objetivo, con un máximo potencial del 200% basado en el rendimiento del precio de las acciones durante cinco años
Las PSUs se consolidarán en función de los logros del precio de las acciones de la empresa durante un periodo de rendimiento de cinco años, con el 50% consolidándose a los cuatro años y el restante a los cinco años, sujeto a la continuidad del empleo. Estos premios se otorgaron como un incentivo material para el empleo de Paladin de acuerdo con la Regla 303A.08 del Manual de Empresas Cotizadas de NYSE.
SmartRent (NYSE: SMRT)는 회사의 2025 유도 주식 인센티브 계획에 따라 새로운 사장 겸 CEO인 Michael Shane Paladin에게 제공된 유도 보상을 발표했습니다. 보상 패키지는 다음과 같습니다:
- 1,790,055 시간 기반 제한 주식 단위 (RSU) 클래스 A 보통주로, 3년 동안 매년 1/3씩 배분됩니다.
- 2,320,441 성과 주식 단위 (PSU) 목표치로, 5년 동안의 주가 성과에 따라 최대 200%의 잠재력을 가집니다.
PSU는 5년 성과 기간 동안 회사의 주가 성과에 따라 배분되며, 4년 후 50%가 배분되고 나머지는 5년 후에 배분되며, 지속적인 고용이 조건입니다. 이러한 보상은 NYSE 상장 회사 매뉴얼 규칙 303A.08에 따라 Paladin의 고용을 위한 물질적 유도로 제공되었습니다.
SmartRent (NYSE: SMRT) a annoncé des récompenses d'incitation accordées à son nouveau président et CEO Michael Shane Paladin dans le cadre du Plan d'Incentive Équity 2025 de l'entreprise. Le package de compensation comprend :
- 1 790 055 unités d'actions restreintes basées sur le temps (RSUs) d'actions ordinaires de Classe A, avec un tiers acquérant des droits chaque année pendant trois ans
- 2 320 441 unités d'actions de performance (PSUs) comme objectif, avec un potentiel maximum de 200 % basé sur la performance du prix des actions sur cinq ans
Les PSUs seront acquis en fonction des réalisations du prix des actions de l'entreprise pendant une période de performance de cinq ans, avec 50 % acquis après quatre ans et le reste après cinq ans, sous réserve de la continuité de l'emploi. Ces récompenses ont été accordées comme incitation matérielle à l'emploi de Paladin conformément à la règle 303A.08 du Manuel des entreprises cotées de la NYSE.
SmartRent (NYSE: SMRT) hat Anreizvergütungen für ihren neuen Präsidenten und CEO Michael Shane Paladin im Rahmen des Unternehmensplans für Anreizaktien 2025 angekündigt. Das Vergütungspaket umfasst:
- 1.790.055 zeitbasierte eingeschränkte Aktieneinheiten (RSUs) von Stammaktien der Klasse A, die über drei Jahre hinweg jährlich zu einem Drittel fällig werden
- 2.320.441 leistungsbezogene Aktieneinheiten (PSUs) als Ziel, mit einem maximalen Potenzial von 200% basierend auf der Aktienkursentwicklung über fünf Jahre
Die PSUs werden basierend auf den Erreichungen des Aktienkurses des Unternehmens während eines fünfjährigen Leistungszeitraums fällig, wobei 50% nach vier Jahren und der Rest nach fünf Jahren fällig wird, vorausgesetzt, die Anstellung wird fortgesetzt. Diese Auszeichnungen wurden als wesentlicher Anreiz für Paladins Anstellung gemäß der Regel 303A.08 des NYSE-Listingshandbuchs gewährt.
- Structured CEO compensation package heavily tied to stock performance incentivizes long-term value creation
- Five-year performance period promotes long-term commitment from new CEO
- 200% upside potential in PSUs aligned with shareholder interests
- Potential shareholder dilution from large equity grants totaling over 4.1 million shares
As provided for in Mr. Paladin’s employment letter with SmartRent and previously described in the Current Report on Form 8-K filed by SmartRent with the Securities and Exchange Commission on January 27, 2025, Mr. Paladin’s grant consisted of time-based restricted stock units (“RSUs”) covering 1,790,055 shares of SmartRent’s Class A common stock and performance stock units (“PSUs”) covering a target of 2,320,441 shares of SmartRent’s Class A common stock. The RSUs will vest at a rate of one-third of the RSUs annually on each anniversary of the date Mr. Paladin commenced employment with the Company (the “Start Date”), subject in each case to Mr. Paladin’s continued employment through the applicable vesting date. While the target number of PSUs granted is 2,320,441, the actual number of shares of Class A common stock earned pursuant to the PSUs, if any, will be determined based on the achievement of performance goals relating to Company stock price during a five-year performance period from the Start Date, and vest based on Mr. Paladin’s continued employment, with
Each inducement award is subject to the terms of the SmartRent, Inc. 2025 Inducement Equity Incentive Plan and related forms of agreements thereunder and were granted as a material inducement to Mr. Paladin entering into employment with SmartRent in accordance with the New York Stock Exchange Listed Company Manual Rule 303A.08.
About SmartRent
Founded in 2017, SmartRent, Inc. (NYSE: SMRT) is a leading provider of smart communities solutions and smart operations solutions to the rental housing industry. SmartRent’s end-to-end enterprise ecosystem powers smarter living and working in rental housing by automating operations, protecting assets, reducing energy consumption, enhancing the resident experience and more. The Company’s differentiators - purpose-built software and hardware, and end-to-end implementation and support - create an exceptional experience, with 15 of the top 20 multifamily operators and millions of users leveraging SMRT solutions daily. For more information, please visit smartrent.com.
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Media Contact
Amanda Chavez - Vice President, Marketing and Communications
media@smartrent.com
Investor Contact
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Source: SmartRent
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