Yelp Announces New Employee Inducement Grants Under NYSE Rule 303A.08

Rhea-AI Summary

Yelp grants restricted stock unit awards to new employees

SAN FRANCISCO--(BUSINESS WIRE)-- Yelp Inc. (NYSE: YELP), the company that connects people with great local businesses, announced that on October 13, 2023, the Compensation Committee of Yelp’s Board of Directors granted inducement restricted stock unit awards covering 35,542 shares of Yelp’s common stock to eight new non-executive employees to induce them to accept employment with Yelp. Each award was granted under the Yelp Inc. 2023 Inducement Award Plan and vests over a four-year period, subject to continued employment with Yelp through each vesting date.

Each award was granted as a material inducement to employment in accordance with the NYSE Listed Company Manual Rule 303A.08.

About Yelp Inc.

Yelp Inc. (yelp.com) is a community-driven platform that connects people with great local businesses. Millions of people rely on Yelp for useful and trusted local business information, reviews and photos to help inform their spending decisions. As a one-stop local platform, Yelp helps consumers easily discover, connect and transact with businesses across a broad range of categories by making it easy to request a quote for a service, book a table at a restaurant, and more. Yelp was founded in San Francisco in 2004.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231019466432/en/

Investor Relations Contact:

Kate Krieger

ir@yelp.com

Press Contact:

Amber Albrecht

press@yelp.com

Source: Yelp Inc.

FAQ

What did Yelp announce?

Yelp announced that it granted restricted stock unit awards to eight new non-executive employees.

How many shares of Yelp's common stock were awarded?

35,542 shares of Yelp's common stock were awarded.

Under what plan were the awards granted?

The awards were granted under the Yelp Inc. 2023 Inducement Award Plan.

How long is the vesting period for each award?

Each award vests over a four-year period.

What is the condition for vesting?

The condition for vesting is continued employment with Yelp through each vesting date.

Why were the awards granted?

The awards were granted as a material inducement to employment in accordance with the NYSE Listed Company Manual Rule 303A.08.