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Vroom Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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Vroom, Inc. (VRM) approves grant of inducement restricted stock unit awards to 11 employees under the 2022 Inducement Award Plan.
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NEW YORK--(BUSINESS WIRE)--
Vroom, Inc. (Nasdaq: VRM), a leading e-commerce platform for buying and selling used vehicles, today reported that on November 18, 2023, the Compensation Committee of Vroom’s Board of Directors approved the grant of inducement restricted stock unit awards covering 96,925 shares of Vroom’s common stock to 11 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.
What did Vroom, Inc. (VRM) report on November 18, 2023?
Vroom, Inc. (VRM) reported the approval of the grant of inducement restricted stock unit awards covering 96,925 shares of Vroom’s common stock to 11 employees under the 2022 Inducement Award Plan.
How many shares were covered in the grant of inducement restricted stock unit awards by Vroom, Inc. (VRM)?
The grant covered 96,925 shares of Vroom’s common stock.
Under what plan were the awards granted to employees by Vroom, Inc. (VRM)?
The awards were granted under Vroom’s 2022 Inducement Award Plan.
What are the vesting conditions for the inducement restricted stock unit awards granted by Vroom, Inc. (VRM)?
The awards 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.
Why were the awards granted by Vroom, Inc. (VRM)?
The awards were granted as employment inducement awards pursuant to the Nasdaq listing rules.
