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

Rhea-AI Summary

LivePerson (LPSN) has announced equity-based incentive awards under its 2018 Inducement Plan, designed to provide incentives to new hires. In December 2024, the company granted restricted stock units (RSUs) to 19 new employees, totaling 1,554,059 shares. The RSUs have varying vesting schedules: 608,000 units vest equally over two years, 401,472 units vest after six months, and 544,597 units vest after three months. All RSUs are contingent on continued employment through the vesting dates.

Positive

• Successfully attracted 19 new employees with equity incentives
• Structured vesting schedule promotes employee retention

Negative

• Potential dilution of existing shareholders due to 1.55M new shares
• Short vesting periods (3-6 months) for 60% of RSUs may not ensure long-term retention

NEW YORK, Dec. 30, 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 December 2024, LivePerson granted an award of restricted stock units ("RSUs") to 19 new employees in respect of 1,554,059 shares of LivePerson's common stock.  608,000 of the RSUs vest in equal installments on the first and second anniversaries of the date of grant, 401,472 of the RSUs vest in full six months after the date of grant, and 544,597 of the RSUs vest in full three months after the date of grant. 

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

About LivePerson, Inc.
LivePerson (NASDAQ: LPSN) is a leader in trusted enterprise conversational AI and digital transformation. 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 uniquely rich data analytics and safety tools to unlock the power of conversational AI for better business outcomes. Fast Company named LivePerson the #1 Most Innovative AI Company in the world. Learn more at liveperson.com.

Investor Contact:
ir-lp@liveperson.com

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SOURCE LivePerson, Inc.

FAQ

How many RSUs did LivePerson (LPSN) grant in December 2024?

LivePerson granted 1,554,059 RSUs to 19 new employees in December 2024.

What are the vesting schedules for LivePerson's December 2024 RSU grants?

The RSUs have three vesting schedules: 608,000 units vest equally over two years, 401,472 units vest after six months, and 544,597 units vest after three months.

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

The 2018 Inducement Plan was established to provide equity-based incentive awards to new hires during active hiring periods.

How many new employees received RSU grants from LivePerson in December 2024?

19 new employees received RSU grants from LivePerson in December 2024.