Vroom Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Vroom, Inc. (Nasdaq: VRM) announced on September 22, 2022, that its Compensation Committee approved the grant of inducement restricted stock unit awards covering 95,125 shares to 22 non-executive employees. This initiative aims to attract new talent, with awards vesting in equal annual increments over three years, contingent upon continued employment. These awards are part of Vroom’s 2022 Inducement Award Plan, adhering to Nasdaq listing rules. Vroom is an e-commerce platform specializing in the buying and selling of used vehicles, offering a data-driven approach to enhance customer experience.

Positive

• Inducement stock awards may enhance employee retention and attraction.
• The grant reflects a commitment to investing in talent for future growth.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Vroom, Inc. (Nasdaq: VRM), a leading e-commerce platform for buying and selling used vehicles, today reported that on September 22, 2022, the Compensation Committee of Vroom’s Board of Directors approved the grant of inducement restricted stock unit awards covering 95,125 shares of Vroom’s common stock to 22 non-executive employees of Vroom and its affiliates to induce them to join as employees of Vroom and its affiliates. The awards were granted under Vroom’s 2022 Inducement Award Plan, and generally vest in equal annual increments of 1/3 over the three-year period following their grant, subject to continued employment through each applicable vesting date. The awards were granted as employment inducement awards pursuant to the Nasdaq listing rules.

About Vroom (Nasdaq: VRM)

Vroom is an innovative, end-to-end ecommerce platform that offers a better way to buy and a better way to sell used vehicles. The Company's scalable, data-driven technology brings all phases of the vehicle buying and selling process to consumers wherever they are and offers an extensive selection of vehicles, transparent pricing, competitive financing, and contact-free, at-home pick-up and delivery.

For more information, please visit ir.vroom.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220923005390/en/

Investor Relations:

Vroom

Liam Harrington

investors@vroom.com

Source: Vroom, Inc.

FAQ

What stock awards were granted by Vroom on September 22, 2022?

Vroom granted inducement restricted stock unit awards covering 95,125 shares to 22 non-executive employees.

What is the purpose of the inducement stock awards at Vroom?

The purpose is to attract and retain new talent as part of Vroom's growth strategy.

How do Vroom's stock awards vest?

The awards vest in equal annual increments over three years, subject to continued employment.

What is Vroom's main business focus?

Vroom is an e-commerce platform that facilitates the buying and selling of used vehicles.

Are the inducement awards part of a specific plan?

Yes, the awards are part of Vroom's 2022 Inducement Award Plan.