Aterian, Inc. Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Aterian, Inc. (Nasdaq: ATER) has granted a restricted stock award of 70,000 shares to a new employee. The award will vest over three years, with 33.33% vesting after one year and the rest vesting quarterly. This award was granted under the Aterian 2022 Inducement Equity Incentive Plan.

NEW YORK, July 31, 2023 (GLOBE NEWSWIRE) -- Aterian, Inc. (Nasdaq: ATER) (“Aterian”), today announced that it has granted a restricted stock award with respect to 70,000 shares of common stock to a new employee. This inducement award was granted pursuant to the Aterian 2022 Inducement Equity Incentive Plan and granted as an inducement material to the employee's employment with Aterian in accordance with Nasdaq Listing Rule 5635(c)(4). The award will vest over three years, with 33.33% of the total number of shares subject to the award vesting on the one-year anniversary of the date of the recipient’s commencement of employment with Aterian and the balance vesting in equal amounts on a quarterly basis thereafter, subject in each case to the recipient’s continued service to Aterian on each vesting date. Aterian is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).

About Aterian, Inc.
Aterian, Inc. (Nasdaq: ATER) is a leading technology-enabled consumer product company that builds, acquires, and partners with leading e-commerce brands by harnessing proprietary software and an agile supply chain to create top selling consumer products. The Company’s cloud-based platform, Artificial Intelligence Marketplace Ecommerce Engine (AIMEE™), leverages machine learning, natural language processing and data analytics to streamline the management of products at scale across the world's largest online marketplaces with a focus on Amazon, Shopify and Walmart. Aterian owns and operates a number of brands and sells its products in multiple categories, including home and kitchen appliances, health and wellness, beauty and consumer electronics.

Forward-Looking Statements

This press release includes forward-looking statements, including statements regarding Aterian’s employees and equity plans. These forward-looking statements are based upon information that is currently available to Aterian, speak only as of the date hereof, and are subject to numerous risks and uncertainties, including risks associated with Aterian’s employees and equity plans, and additional risks set forth in Aterian’s filings with the Securities and Exchange Commission. Aterian expressly disclaims any obligation, except as required by law, or undertaking to update or revise any such forward-looking statements.

Investor Contact:

Ilya Grozovsky
Vice President, Investor Relations & Corp. Development
Aterian, Inc.
ilya@aterian.io
917-905-1699
Aterian.io

What is the news about Aterian, Inc.?

Aterian, Inc. has granted a restricted stock award to a new employee.

How many shares were granted in the stock award?

Aterian granted 70,000 shares in the restricted stock award.

How will the stock award vest?

The stock award will vest over three years, with 33.33% vesting after one year and the rest vesting quarterly.

Under which plan was the stock award granted?

The stock award was granted under the Aterian 2022 Inducement Equity Incentive Plan.

What rule is Aterian following in granting this stock award?

Aterian is granting this stock award in accordance with Nasdaq Listing Rule 5635(c)(4).