Opendoor Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
25 Maio 2023 - 4:40PM
Opendoor Technologies Inc. (“Opendoor”) (Nasdaq: OPEN), a leading
e-commerce platform for residential real estate transactions, today
announced that on May 23, 2023, the Compensation Committee of
Opendoor’s Board of Directors granted restricted stock units
covering 5,073,831 shares of its common stock to thirty-three (33)
non-executive employees, in connection with their commencement of
employment, under the Opendoor Technologies Inc. 2022 Inducement
Award Plan (the “Inducement Plan”). The restricted stock units were
granted as an inducement material to the employees’ commencement of
employment and were granted as an employment inducement award
pursuant to Nasdaq Listing Rule 5635(c)(4).
The Inducement Plan is used exclusively for the
grant of equity awards to individuals who were not previously
employees of Opendoor, or following a bona fide period of
non-employment, as an inducement material to such individuals’
entering into employment with Opendoor, pursuant to Nasdaq Listing
Rule 5635(c)(4).
The restricted stock units vest over two years
subject to continued service. With respect to the majority of the
grantees, 50% of the shares underlying their award of restricted
stock units vest on the first anniversary of the vesting
commencement date (which is either February 15, 2023, March 15,
2023 or April 15, 2023, depending on the employee) and an
additional 1/8th of the shares vest quarterly thereafter, subject
to the employee’s continued service on such vesting dates. The
restricted stock units are subject to the terms and conditions of
the Inducement Plan and a restricted stock unit agreement covering
the grant.
About Opendoor
Opendoor’s mission is to power life’s progress,
one move at a time. Since 2014, Opendoor has provided people across
the U.S. with a simple way to buy and sell a home. Opendoor
currently operates in a growing number of markets nationwide.
For more information, please visit
www.opendoor.com.
Investor Contact:investors@opendoor.com
Media:press@opendoor.com
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