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Yelp Announces New Employee Inducement Grants Under NYSE Rule 303A.08
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Yelp Inc. (YELP) announced on November 14, 2023, that the Compensation Committee of Yelp’s Board of Directors granted inducement restricted stock unit awards covering 36,354 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. This announcement reflects Yelp's commitment to attracting and retaining top talent, as well as its adherence to NYSE regulations regarding inducement awards and the compensation of non-executive employees.
Positive
Yelp's inducement awards demonstrate the company's proactive approach to talent acquisition and retention, potentially enhancing its workforce and contributing to long-term growth.
This move aligns with NYSE regulations, showcasing Yelp's commitment to compliance and governance standards.
Negative
None.
SAN FRANCISCO--(BUSINESS WIRE)--
Yelp Inc. (NYSE: YELP), the company that connects people with great local businesses, announced that on November 14, 2023, the Compensation Committee of Yelp’s Board of Directors granted inducement restricted stock unit awards covering 36,354 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.
What is the purpose of the inducement restricted stock unit awards granted by Yelp Inc. (YELP) on November 14, 2023?
The awards were granted to eight new non-executive employees to induce them to accept employment with Yelp, aligning with the company's talent acquisition strategy.
Under what plan were the awards granted by Yelp Inc. (YELP) and how long is the vesting period?
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.
What is the significance of the awards being granted as a material inducement to employment in accordance with the NYSE Listed Company Manual Rule 303A.08?
This reflects Yelp's adherence to NYSE regulations regarding inducement awards and the compensation of non-executive employees, demonstrating its commitment to governance standards.
