SmartRent Announces Inducement Grants Under New York Stock Exchange Listed Company Manual Rule 303A.08
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restricted stock unitsfinancial
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
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RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.
inducement equity incentive planfinancial
An inducement equity incentive plan is a program that grants employees or executives company shares or stock options to motivate and reward their work, often as a way to attract new talent. It aligns their interests with the company's success, encouraging them to contribute to long-term growth. For investors, such plans can influence a company's stock performance and overall financial health by motivating key personnel.
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Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
PHOENIX--(BUSINESS WIRE)--
SmartRent, Inc. (the “Company”) announced that, in accordance with the terms of their offer letters and as a material inducement to Mr. Pankaj Bansi and Mr. Sangeeth Ponathil commencing employment with the Company, the Company granted inducement awards to each of Messrs. Bansi and Ponathil under the SmartRent, Inc. 2025 Inducement Equity Incentive Plan (the “Inducement Plan”) in accordance with New York Stock Exchange Listed Company Manual Rule 303A.08.
As provided in Mr. Bansi’s offer letter, the inducement award consists of time-based restricted stock units (“RSUs”) covering 232,558 shares of SmartRent’s Class A common stock. The RSUs vest at a rate of 25% annually on each anniversary of the award grant date, subject to his continued employment through the applicable vesting date.
As provided in Mr. Ponathil’s offer letter, the inducement award consists of time-based RSUs covering 232,558 shares of SmartRent’s Class A common stock. The RSUs vest at a rate of 25% annually on each anniversary of the award grant date, subject to his continued employment through the applicable vesting date.
Each inducement award is subject to the terms of the Inducement Plan and the applicable award agreements thereunder.
About SmartRent
Founded in 2017, SmartRent, Inc. (NYSE: SMRT) is a leading provider of smart communities solutions and smart operations solutions to the rental housing industry. SmartRent’s end-to-end enterprise ecosystem powers smarter living and working in rental housing by automating operations, protecting assets, reducing energy consumption, enhancing the resident experience and more. The company’s differentiators - purpose-built software and hardware, and end-to-end implementation and support - create an exceptional experience, with 15 of the top 20 multifamily operators and millions of users leveraging SMRT solutions daily. For more information, please visit smartrent.com.
