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

Rhea-AI Summary

Cardlytics, Inc. (NASDAQ: CDLX), an advertising platform in banks' digital channels, has announced the granting of 49,900 restricted stock units to seven newly hired employees. The grants were approved by the Compensation Committee of Cardlytics' Board of Directors on August 19, 2024, as material inducements to employment under Nasdaq Listing Rule 5635(c)(4).

The restricted stock units were granted under the Cardlytics, Inc. 2022 Inducement Plan. For all recipients, 50% of the units will vest on the first anniversary of the grant date, with the remaining 50% vesting quarterly over the subsequent 12 months, subject to continuous service with Cardlytics.

Positive

• Attraction of new talent with stock-based compensation
• Alignment of employee interests with company performance through equity grants

Negative

• Potential dilution of existing shareholders' equity

ATLANTA, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Cardlytics, Inc. (NASDAQ: CDLX), an advertising platform in banks’ digital channels, today announced that, on August 19, 2024, the Compensation Committee of Cardlytics’ Board of Directors granted an aggregate of 49,900 restricted stock units of Cardlytics to seven newly hired employees. The restricted stock units were granted as material inducements to employment with Cardlytics in accordance with Nasdaq Listing Rule 5635(c)(4) and were granted under the Cardlytics, Inc. 2022 Inducement Plan (the “2022 Inducement Plan”).

For all of the grant recipients, 50% of the restricted stock units shall vest on the first anniversary of the grant date, and the remaining 50% shall vest quarterly over the subsequent 12 months, subject to the employees’ continuous service with Cardlytics through the vesting date. The restricted stock units are subject to the terms and conditions of the 2022 Inducement Plan.

About Cardlytics

Cardlytics (NASDAQ: CDLX) is a digital advertising platform. We partner with financial institutions to run their rewards programs that promote customer loyalty and deepen relationships. In turn, we have a secure view into approximately 1 of every 2 card-based transactions in the U.S., allowing us to see where and when consumers are spending their money. We use these insights to help marketers identify, reach, and influence likely buyers at scale, as well as measure the true sales impact of marketing campaigns. Headquartered in Atlanta, Cardlytics has offices in Menlo Park, Los Angeles, New York, and London. Learn more at www.cardlytics.com. 

Contacts: 

Public Relations: 
pr@cardlytics.com

Investor Relations:
ir@cardlytics.com

FAQ

How many restricted stock units did Cardlytics (CDLX) grant to new employees on August 19, 2024?

Cardlytics (CDLX) granted an aggregate of 49,900 restricted stock units to seven newly hired employees on August 19, 2024.

What is the vesting schedule for the restricted stock units granted by Cardlytics (CDLX)?

50% of the restricted stock units vest on the first anniversary of the grant date, and the remaining 50% vest quarterly over the subsequent 12 months, subject to continuous service with Cardlytics.

Under which plan were the Cardlytics (CDLX) restricted stock units granted?

The restricted stock units were granted under the Cardlytics, Inc. 2022 Inducement Plan.

What is the purpose of Cardlytics (CDLX) granting these restricted stock units?

The restricted stock units were granted as material inducements to employment with Cardlytics in accordance with Nasdaq Listing Rule 5635(c)(4).