iRobot Announces Inducement Grant under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
iRobot (NASDAQ: IRBT) has announced an equity award as an employment inducement for its newly appointed Senior Vice President and Chief Human Resources Officer, Jules Connelly. The award consists of 120,000 time-based restricted stock units (RSUs), granted on December 6, 2024. The RSUs will vest over three years, contingent on Connelly's continued employment. This inducement award was approved by iRobot's Board of Directors on November 4, 2024, in compliance with Nasdaq Rule 5635(c)(4), and was granted outside the company's regular equity incentive plan.
Positive
- None.
Negative
- Issuance of 120,000 RSUs represents potential future shareholder dilution
News Market Reaction
On the day this news was published, IRBT declined 4.79%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Notice of Issuance of Inducement Grant
In connection with the appointment of Ms. Connelly as Senior Vice President and Chief Human Resources Officer effective December 2, 2024, iRobot granted Ms. Connelly an employment inducement award consisting of 120,000 time-based restricted stock units ("RSUs") with an effective grant date of December 6, 2024. The RSUs will vest over a three-year period, subject to Ms. Connelly's continuous employment on each vesting date.
The inducement award to Ms. Connelly was granted as a material inducement to her employment and was approved by iRobot's Board of Directors on November 4, 2024, in accordance with Rule 5635(c)(4) of The NASDAQ Stock Market LLC. The award was granted outside iRobot's equity incentive plan.
About iRobot Corp.
iRobot is a global consumer robot company that designs and builds thoughtful robots and intelligent home innovations that make life better. iRobot introduced the first Roomba robot vacuum in 2002. Today, iRobot is a global enterprise that has sold more than 50 million robots worldwide. iRobot's product portfolio features technologies and advanced concepts in cleaning, mapping and navigation. Working from this portfolio, iRobot engineers are building robots and smart home devices to help consumers make their homes easier to maintain and healthier places to live. For more information about iRobot, please visit www.irobot.com.
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SOURCE iRobot Corporation
FAQ
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When did iRobot's (IRBT) Board approve the inducement grant for Jules Connelly?
