The Honest Company Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

The Honest Company (HNST) granted Ms. Dorria L. Ball 208,757 restricted stock units under the 2023 Inducement Plan for her role as Chief People Officer. The grant, approved on February 29, 2024, is subject to a vesting schedule starting on February 29, 2024, with 25% vesting on March 4, 2025 and 6.25% quarterly thereafter.

LOS ANGELES, March 01, 2024 (GLOBE NEWSWIRE) -- The Honest Company (NASDAQ: HNST), a personal care company dedicated to creating clean- and sustainably-designed products, today announced that it made an inducement grant to Ms. Dorria L. Ball in connection with her employment as The Honest Company’s new Chief People Officer, effective January 2, 2024. Such grant was made under The Honest Company, Inc. 2023 Inducement Plan, which was approved and adopted on March 14, 2023, by the Company’s Compensation Committee of the Board of Directors. The Compensation Committee granted Ms. Ball an aggregate of 208,757 restricted stock units under the 2023 Inducement Plan.

The grant was approved by the Compensation Committee on February 29, 2024, pursuant to a delegation by the Board of Directors and was issued as an equity grant pursuant to Nasdaq Listing Rule 5635(c)(4), as an inducement material to Ms. Ball entering into employment with The Honest Company. The restricted stock units granted are subject to a vesting schedule commencing on February 29, 2024, with 25% of the restricted stock units vesting on March 4, 2025 and an additional 6.25% of the restricted stock units vesting on each quarterly vesting date thereafter, subject to Ms. Ball’s continued employment.

About The Honest Company
The Honest Company (NASDAQ: HNST) is a digitally-native consumer products company dedicated to creating clean- and sustainably-designed products spanning baby care, beauty, personal care, wellness and household care. Honest products are available via Honest.com, third-party ecommerce customers and approximately 51,000 retail locations across the United States and Canada. Based in Los Angeles, CA, the Company’s mission, to inspire everyone to love living consciously, is driven by its values of transparency, trust, sustainability and a deep sense of purpose around what matters most to its consumers: their health, their families and their homes. For more information about the Honest Standard and the Company, please visit www.honest.com.

Investor Contacts:
Elizabeth Bouquard
ebouquard@thehonestcompany.com

Investor Inquiries:
investors@thehonestcompany.com

Media Contact:
Jennifer Kroog Rosenberg
jrosenberg@thehonestcompany.com

What type of grant did The Honest Company (HNST) make to Ms. Dorria L. Ball?

The Honest Company (HNST) made an inducement grant to Ms. Dorria L. Ball in the form of 208,757 restricted stock units.

When was the 2023 Inducement Plan approved and adopted by The Honest Company (HNST)?

The 2023 Inducement Plan was approved and adopted on March 14, 2023, by the Company’s Compensation Committee of the Board of Directors.

What is the vesting schedule for the restricted stock units granted to Ms. Dorria L. Ball by The Honest Company (HNST)?

The restricted stock units granted to Ms. Dorria L. Ball by The Honest Company (HNST) start vesting on February 29, 2024, with 25% vesting on March 4, 2025, and an additional 6.25% quarterly thereafter.