Cardlytics Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
On September 1, 2022, Cardlytics (NASDAQ: CDLX) announced the grant of 1,345,261 restricted stock units to its new CEO, Karim Temsamani, as part of his employment inducement.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
On September 1, 2022, Cardlytics (NASDAQ: CDLX) announced the grant of 1,345,261 restricted stock units to its new CEO, Karim Temsamani, as part of his employment inducement. This grant, valued at $20 million, was calculated based on a 30-day average stock price of $14.87. The restricted stock units will vest over four years, with 25% vesting after one year and the remainder quarterly over the next three years, contingent upon Mr. Temsamani's continued employment.
Positive
- New CEO appointed to lead Cardlytics, potentially enhancing management and strategic direction.
- Significant stock grant valued at $20 million may align CEO's interests with shareholders.
Negative
- None.
Details
News Market Reaction – CDLX
The recorded move for CDLX in the trading session of this news was -5.06%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
ATLANTA, Sept. 01, 2022 (GLOBE NEWSWIRE) -- Cardlytics, Inc., (NASDAQ: CDLX), an advertising platform in banks’ digital channels, today announced that, on September 1, 2022, Cardlytics’ Board of Directors granted 1,345,261 restricted stock units of Cardlytics to Karim Temsamani, Cardlytics’ newly hired Chief Executive Officer. The foregoing restricted stock units were granted as a material inducement to employment with Cardlytics in accordance with Nasdaq Listing Rule 5635(c)(4) and were granted under the Cardlytics 2022 Inducement Plan (the “2022 Inducement Plan”).
As previously announced, the 1,345,261 restricted stock units were based on a
About Cardlytics
Cardlytics (NASDAQ: CDLX) is a digital advertising platform. We partner with financial institutions to run their banking rewards programs that promote customer loyalty and deepen banking relationships. In turn, we have a secure view into 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 London, New York, Los Angeles, San Francisco, Austin, Detroit and Visakhapatnam. Learn more at www.cardlytics.com.
Contacts:
Public Relations:
Monica McDonald
MMcDonald@cardlytics.com
Investor Relations:
Robert Robinson
IR@cardlytics.com
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