LivePerson Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

LivePerson, Inc. (Nasdaq: LPSN) has issued a confirmatory notice regarding recent equity-based incentive awards granted under its 2018 Inducement Plan. This announcement is in compliance with Nasdaq Listing Rule 5635(c)(4). The company established the Inducement Plan to provide equity-based incentives to new hires during active hiring periods.

In September 2024, LivePerson granted restricted stock units (RSUs) to one employee for 305,603 shares of common stock. This grant replaces a previously reported May 2024 grant of 268,588 shares. The RSUs are set to vest after six months, contingent upon the grantee's continued employment. These awards were granted as inducements for the grantee to join the company.

Positive

• Equity-based incentives offered to attract and retain talent
• Compliance with Nasdaq listing rules, demonstrating good corporate governance

Negative

• Potential dilution of existing shareholders due to new stock issuance

NEW YORK, Oct. 11, 2024 /PRNewswire/ -- LivePerson, Inc. (Nasdaq: LPSN) is providing confirmatory notice, in compliance with the requirements of Nasdaq Listing Rule 5635(c)(4), of recent grants of equity-based incentive awards that LivePerson made under the LivePerson Inc. 2018 Inducement Plan (the "Inducement Plan").

LivePerson established the Inducement Plan for the purpose of providing equity-based incentive awards to new hires and has done so during active periods of hiring.  In September 2024, LivePerson granted an award of restricted stock units ("RSUs") to one employee in respect of 305,603 shares of LivePerson's common stock, in replacement of a grant previously reported in May 2024 as 268,588 shares of LivePerson's common stock. The RSUs all vest after six months.

All of the RSU grants are subject to the grantee's continued employment on the scheduled vesting date. Each award granted under the Inducement Plan was granted as an inducement material to the grantee's entering into employment with the Company.

About LivePerson, Inc.

LivePerson (NASDAQ: LPSN) is the enterprise leader in digital-first customer conversations. The world's leading brands — including HSBC, Chipotle, and Virgin Media — use our award-winning Conversational Cloud platform to connect with millions of consumers. We power nearly a billion conversational interactions every month, providing a uniquely rich data set and AI-powered solutions to accelerate contact center transformation, supercharge agent productivity, and deliver more personalized customer experiences. Fast Company named us the #1 Most Innovative AI Company in the world. To talk with us or our AI, please visit liveperson.com.

Investor Contact:

ir-lp@liveperson.com

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SOURCE LivePerson, Inc.

FAQ

How many shares of LivePerson (LPSN) were granted as RSUs in September 2024?

In September 2024, LivePerson (LPSN) granted restricted stock units (RSUs) for 305,603 shares of common stock to one employee.

What is the vesting period for the RSUs granted by LivePerson (LPSN) in September 2024?

The RSUs granted by LivePerson (LPSN) in September 2024 are set to vest after six months, subject to the grantee's continued employment.

Why did LivePerson (LPSN) issue this press release about equity grants?

LivePerson (LPSN) issued this press release to comply with Nasdaq Listing Rule 5635(c)(4), which requires companies to disclose equity-based incentive awards granted to new hires outside of shareholder-approved equity plans.

What is the purpose of LivePerson's (LPSN) 2018 Inducement Plan?

LivePerson's (LPSN) 2018 Inducement Plan was established to provide equity-based incentive awards to new hires during active hiring periods.