Opendoor Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
23 Agosto 2023 - 5:05PM
Opendoor Technologies Inc. (“Opendoor”) (Nasdaq: OPEN), a leading
e-commerce platform for residential real estate transactions, today
announced that on August 21, 2023, the Compensation Committee of
Opendoor’s Board of Directors granted restricted stock units
covering 1,958,896 shares of its common stock to thirty-one (31)
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 May 15, 2023, June 15, 2023 or
July 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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