Zapata Computing Holdings Inc. Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
Zapata Computing Holdings, trading on Nasdaq under ZPTA, announced an inducement grant under Nasdaq Listing Rule 5635(c)(4).
The Compensation Committee approved a nonstatutory stock option for Derron Blakely, newly appointed General Counsel, to purchase 300,000 shares of common stock at an exercise price of $0.841 per share. This price reflects the closing price on June 3, 2024.
The option vests 25% after the first year and the remaining 75% in equal monthly increments over the next three years, contingent on Blakely's continued employment. This grant is a key part of Blakely’s compensation package and acceptance of the role.
Appointment of experienced General Counsel Derron Blakely, potentially strengthening legal and compliance framework.
Stock option grant is a strategic move to align interests between Blakely and shareholders, potentially driving long-term company value.
The inducement grant follows Nasdaq Listing Rule 5635(c)(4), reflecting compliance with regulatory standards.
The vesting schedule for the stock option means potential dilution of existing shareholders' equity over time.
Stock granted outside of the 2024 Equity and Incentive Plan could raise governance and transparency concerns.
Exercise price of $0.841 per share might signal undervaluation or recent stock price pressure.
Future vesting contingent on continued employment may introduce stability risk.
BOSTON, June 03, 2024 (GLOBE NEWSWIRE) -- Zapata Computing Holdings Inc. (“Zapata AI” or the “Company”) (Nasdaq: ZPTA), the Industrial Generative AI company, today announced that the Compensation Committee of Zapata AI’s Board of Directors has approved an inducement grant of a nonstatutory stock option to Derron Blakely to purchase 300,000 shares of Zapata AI’s common stock with an exercise price of
The grant was made as an inducement that was a material component of Mr. Blakely’s compensation and subsequent acceptance of employment with Zapata AI and was granted as an employment inducement award pursuant to Nasdaq Listing Rule 5635(c)(4) approved by Zapata AI 's Compensation Committee.
About Zapata AI
Zapata AI is an Industrial Generative AI company, revolutionizing how enterprises solve complex operational challenges with its powerful suite of generative AI software applications and cutting-edge reference architecture. By combining numerical and text-based generative AI models and custom software applications to power industrial-scale solutions, Zapata AI enables enterprises and government entities to drive growth, cost savings through operational efficiencies, and critical operational insights. With its proprietary data science and engineering techniques, and the Orquestra® platform, Zapata AI is accelerating Generative AI’s impact across industries by delivering solutions which are higher performing, less costly, and more accurate and expressive than current, classical approaches to AI. The Company was founded in 2017 and is headquartered in Boston, Massachusetts.
Contacts:
Media: press@zapata.ai
Investors: investors@zapata.ai
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