Qualtrics Grants Equity Awards to Usermind Employees Under Its Inducement Equity Plan Pursuant to NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

On August 19, 2021, Qualtrics (NASDAQ: XM) granted 359,435 restricted stock units (RSUs) to 34 Usermind employees following its acquisition of Usermind, completed on July 20, 2021. This move aims to enhance Qualtrics' XM Directory by integrating Usermind's experience orchestration technology, which enriches customer profiles with contextual data. The RSUs will vest over four years, aligning employee incentives with the company’s long-term objectives as per NASDAQ Listing Rule 5635(c)(4).

Positive

• Acquisition of Usermind strengthens Qualtrics XM Directory with enriched customer profiles.
• Integration of contextual data and operational data enhances real-time customer experience.
• Inducement RSUs align employee performance with long-term company growth.

Negative

• None.

PROVO, Utah and SEATTLE, Aug. 20, 2021 /PRNewswire/ -- Qualtrics (NASDAQ: XM), the leader and creator of the Experience Management (XM) category, today announced that on August 19, 2021 it granted 359,435 restricted stock units ("RSUs") to 34 Usermind employees who joined Qualtrics as a result of its acquisition of Usermind, Inc., which was completed on July 20, 2021.

Usermind is a next-generation experience orchestration platform. Their technology strengthens the Qualtrics XM Directory, the largest human sentiment database, by bringing in contextual data from any source to create richer customer profiles that include every interaction a customer has with a brand and all of the feedback they've provided over time. Now, organizations will be able to bring experience and contextual data together with operational data, such as customer demographics or sales history, analyze it, and automatically take action to shape journeys in real-time and deliver personalized experiences for customers and employees at every touchpoint.

The RSUs were granted as inducements to employment in accordance with NASDAQ Listing Rule 5635(c)(4). The RSUs will vest over four years with 25% vesting on the first anniversary of the grant date and the remainder vesting ratably thereafter in 12 equal quarterly installments, subject to the employee's continued employment with Qualtrics or an affiliate of Qualtrics. The grants will be subject to the terms and conditions of the 2021 Qualtrics International Inc. Inducement Equity Plan.

About Qualtrics

Qualtrics, the leader and creator of the Experience Management (XM) category, is changing the way organizations manage and improve the four core experiences of business—customer, employee, product and brand. Over 13,500 organizations around the world use Qualtrics to listen, understand and take action on experience data (X-data™)—the beliefs, emotions and intentions that tell you why things are happening, and what to do about it. The Qualtrics XM Platform™ is a system of action that helps businesses attract customers who stay longer and buy more, engage employees who build a positive culture, develop breakthrough products people love and build a brand people are passionate about. To learn more, please visit qualtrics.com.

Investor Relations:
Steven Wu
Head of FP&A and Investor Relations
investors@qualtrics.com

Public Relations:
Gina Sheibley
Chief Communications Officer
press@qualtrics.com

 

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SOURCE Qualtrics

FAQ

What did Qualtrics announce on August 19, 2021?

Qualtrics announced the grant of 359,435 restricted stock units (RSUs) to 34 Usermind employees post-acquisition.

How many RSUs did Qualtrics grant to Usermind employees?

Qualtrics granted 359,435 RSUs to 34 Usermind employees.

What is the purpose of the RSUs granted by Qualtrics?

The RSUs were granted as inducements to employment following the acquisition of Usermind to align employee incentives.

When was the Usermind acquisition completed?

The acquisition of Usermind by Qualtrics was completed on July 20, 2021.

What does the Usermind technology bring to Qualtrics?

Usermind's technology enhances the XM Directory by integrating contextual data to create richer customer profiles.

How will the RSUs vest over time?

The RSUs will vest over four years, with 25% vesting on the first anniversary and the remainder in 12 quarterly installments.