LPSN - LivePerson Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
NEW YORK, Jan. 17, 2020 /PRNewswire/ -- LivePerson, Inc. (Nasdaq: LPSN) is providing confirmatory notice, in compliance with the requirements of Nasdaq Listing Rule 5635(c)(4), of prior grants of equity-based incentive awards that LivePerson made under its Inducement Plan.
As previously reported in its public filings, in January 2018, LivePerson adopted the LivePerson Inc. 2018 Inducement Plan (the "Inducement Plan") for the purpose of providing equity-based incentive awards in relation to its leadership recruitment efforts, acquisitions, and other strategic growth plans during 2018-2019. Each award under the Inducement Plan was granted as part of the recipient's joining the Company as an employee.
Grants pursuant to the Inducement Plan occurred between January 2018 and April 2019, and included the following awards: (i) 133 grants of restricted stock units (the "RSUs") in respect of an aggregate of 1,320,195 shares of Common Stock, and 17 grants of options to purchase shares of Common Stock (the "Options") in respect of an aggregate of 540,627 shares, which RSUs and Options generally vest over time subject to the grantee's continued employment; and (ii) 11 grants of performance-based restricted stock units (the "PSUs") in respect of an aggregate of 172,615 shares of Common Stock, which PSUs vest based on the achievement of certain specified performance conditions tied to the applicable grantee's role with LivePerson. The Options have exercise prices ranging from $14.50 to $24.59, with, in each case, the exercise price being equal to the fair market value of a share of Common Stock on the date of the grant. Included in the above figures are previously reported grants to each of the LivePerson's Chief Financial Officer, Christopher Greiner, and Chief Technology Officer, Alexander Spinelli, made in connection with their commencement of employment. As previously reported, on his applicable employment effective date, Mr. Greiner received a grant of RSUs in respect of 60,000 shares of Common Stock and Mr. Spinelli received a grant of RSUs in respect of 200,000 shares of Common Stock, and each executive received an Option grant in respect of 100,000 shares of Common Stock with exercise prices of $15.55 and $14.50, respectively, in each case, vesting of 25% per year over four years and subject to the grantee's continued employment.
The Inducement Plan is now considered dormant, and LivePerson does not currently intend to grant any additional awards under the Inducement Plan.
About LivePerson, Inc.
LivePerson makes life easier by transforming how people communicate with brands. Our 18,000 customers, including leading brands like HSBC, Orange, GM Financial, and The Home Depot, use our conversational commerce solutions to orchestrate humans and AI, at scale, and create a convenient, deeply personal relationship — a conversational relationship — with their millions of consumers. For more information about LivePerson (NASDAQ: LPSN), please visit www.liveperson.com.
Investor Relations Contact:
Matthew Kempler
mkempler@liveperson.com
212-609-4214
SOURCE LivePerson Inc.