authID Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

authID (Nasdaq: AUID) has announced the granting of stock options as inducement awards to two new employees. The first employee received options to purchase 20,000 shares at an exercise price of $5.99 per share, while the second employee received options to purchase 30,000 shares at $5.89 per share. These options will vest monthly over three years in 36 equal installments, contingent on continued employment, and have a 10-year term. The grants were made in accordance with Nasdaq Listing Rule 5635(c)(4).

Positive

• Employee retention strategy through long-term vesting schedule
• Alignment of employee interests with shareholders through equity compensation

Negative

• Potential future dilution of existing shareholders from 50,000 new shares

News Market Reaction

-0.79%

1 alert

-0.79% News Effect

On the day this news was published, AUID declined 0.79%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Denver, Jan. 29, 2025 (GLOBE NEWSWIRE) --  authID Inc. (Nasdaq: AUID), a leading provider of secure identity verification and authentication solutions, today announced that the Company granted options as an inducement to new employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

The Company granted Options to purchase 20,000 Shares at an Exercise Price of $5.99 and 30,000 Shares at an Exercise Price of $5.89 per share to two newly hired employees respectively.  The Options will vest in 36 equal amounts, on a monthly basis, over a period of three years, subject to continued employment, with a term of 10 years. 

About authID
authID (Nasdaq: AUID) ensures enterprises “Know Who’s Behind the Device™” for every customer or employee login and transaction through its easy-to-integrate, patented, biometric identity platform. authID quickly and accurately verifies a user’s identity and eliminates any assumption of ‘who’ is behind a device to prevent cybercriminals from compromising account openings or taking over accounts. Combining secure digital onboarding, and biometric authentication and account recovery, with a fast, accurate, user-friendly experience, authID delivers biometric identity processing in 700ms. Binding a biometric root of trust for each user to their account, authID stops fraud at onboarding, detects and stops deepfakes, eliminates password risks and costs, and provides the fastest, frictionless, and the more accurate user identity experience demanded by today’s digital ecosystem. Discover how authID can help your organization secure your workforce or consumer applications against identity fraud, cyberattacks and account takeover at www.authID.ai.

Investor Relations Contacts

Gateway Group, Inc.
Cody Slach and Alex Thompson
1-949-574-3860
AUID@gateway-grp.com

Investor-Relations@authid.ai

Media Contact
Walter Fowler
NextTech Communications
1-631-334-3864
wfowler@nexttechcomms.com

FAQ

How many stock options did authID (AUID) grant to new employees in January 2024?

authID granted a total of 50,000 stock options to two new employees - 20,000 shares at $5.99 per share and 30,000 shares at $5.89 per share.

What is the vesting schedule for authID's (AUID) new employee stock options?

The stock options vest monthly over a three-year period in 36 equal installments, subject to continued employment.

What is the exercise price of authID's (AUID) newly granted stock options?

The exercise prices are $5.99 per share for 20,000 shares and $5.89 per share for 30,000 shares.

What is the term length of authID's (AUID) new employee stock options?

The stock options have a term of 10 years.