Couchbase Announces New Employee Inducement Grants

Rhea-AI Summary

Couchbase (NASDAQ: BASE), the cloud database platform company, has announced new employee inducement grants under its 2023 Inducement Equity Incentive Plan. On August 28, 2024, the company granted 11 non-executive employees equity awards in the form of service-based restricted stock units (RSUs), representing the right to receive up to 28,730 shares of Couchbase common stock.

The vesting schedule for these RSU Awards is as follows:

• 50% of the shares vest on the first quarterly vesting date following the one-year anniversary of the vesting commencement date
• 12.5% of the shares vest on each quarterly vesting date thereafter

Vesting is conditioned upon each employee's continued employment. These inducement grants were approved by Couchbase's Compensation Committee and comply with Nasdaq Rule 5635(c)(4).

Positive

• Attracting new talent with equity incentives
• Aligning employee interests with company performance through stock awards
• Complying with Nasdaq rules for inducement grants

Negative

• Potential dilution of existing shareholders' equity
• Increased share-based compensation expenses

News Market Reaction

-3.31%

1 alert

-3.31% News Effect

On the day this news was published, BASE declined 3.31%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

SANTA CLARA, Calif., Aug. 30, 2024 /PRNewswire/ -- Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced it has granted equity awards under its 2023 Inducement Equity Incentive Plan to new employees who joined Couchbase.

On August 28, 2024, Couchbase granted 11 non-executive employees equity awards in the form of service-based restricted stock units ("RSU Awards"), representing the right to receive up to 28,730 shares of Couchbase, Inc. common stock in the aggregate, with fifty percent (50%) of the shares subject to such RSU Awards vesting on the first quarterly vesting date following the one (1) year anniversary of the vesting commencement date, and twelve and one-half percent (12.5%) of the shares subject to such RSU Awards vesting on each quarterly vesting date thereafter conditioned upon each employee's continued employment on the vesting date(s). 

The inducement grants were approved by Couchbase's Compensation Committee of the Board of Directors, as required by Nasdaq Rule 5635(c)(4), and were granted as a material inducement to employment in accordance with Nasdaq Rule 5635(c)(4).

About Couchbase

Modern customer experiences need a flexible database platform that can power applications spanning from cloud to edge and everything in between. Couchbase's mission is to simplify how developers and architects develop, deploy and run modern applications wherever they are. We have reimagined the database with our fast, flexible and affordable cloud database platform Capella, allowing organizations to quickly build applications that deliver premium experiences to their customers– all with best-in-class price performance. More than 30% of the Fortune 100 trust Couchbase to power their modern applications. For more information, visit www.couchbase.com and follow us on X (formerly Twitter) @couchbase.

Couchbase®, the Couchbase logo and the names and marks associated with Couchbase's products are trademarks of Couchbase, Inc. All other trademarks are the property of their respective owners.

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SOURCE Couchbase, Inc.

FAQ

How many new employees received equity awards from Couchbase (BASE) on August 28, 2024?

Couchbase (BASE) granted equity awards to 11 non-executive employees on August 28, 2024.

What is the total number of shares represented by the RSU Awards granted by Couchbase (BASE)?

The RSU Awards granted by Couchbase (BASE) represent the right to receive up to 28,730 shares of common stock in aggregate.

What is the vesting schedule for the RSU Awards granted by Couchbase (BASE)?

50% of the shares vest on the first quarterly vesting date after the one-year anniversary, and 12.5% vest quarterly thereafter, subject to continued employment.

Under which plan did Couchbase (BASE) grant these equity awards?

Couchbase (BASE) granted these equity awards under its 2023 Inducement Equity Incentive Plan.