Cardlytics Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
ATLANTA, Sept. 01, 2022 (GLOBE NEWSWIRE) -- Cardlytics, Inc., (NASDAQ: CDLX), an advertising platform in banks’ digital channels, today announced that, on September 1, 2022, Cardlytics’ Board of Directors granted 1,345,261 restricted stock units of Cardlytics to Karim Temsamani, Cardlytics’ newly hired Chief Executive Officer. The foregoing restricted stock units were granted as a material inducement to employment with Cardlytics in accordance with Nasdaq Listing Rule 5635(c)(4) and were granted under the Cardlytics 2022 Inducement Plan (the “2022 Inducement Plan”).
As previously announced, the 1,345,261 restricted stock units were based on a $20 million grant value divided by $14.87, the 30-day trading-day average stock price ending on the trading day prior to the grant date. 25% of the restricted stock units shall vest on the first anniversary of the grant date and the remaining 75% of the restricted stock units shall vest quarterly over the following three years, subject to Mr. Temsamani’s continuous service with Cardlytics as of each respective vesting date. The restricted stock units are subject to the terms and conditions of the 2022 Inducement Plan.
Cardlytics (NASDAQ: CDLX) is a digital advertising platform. We partner with financial institutions to run their banking rewards programs that promote customer loyalty and deepen banking relationships. In turn, we have a secure view into where and when consumers are spending their money. We use these insights to help marketers identify, reach, and influence likely buyers at scale, as well as measure the true sales impact of marketing campaigns. Headquartered in Atlanta, Cardlytics has offices in London, New York, Los Angeles, San Francisco, Austin, Detroit and Visakhapatnam. Learn more at www.cardlytics.com.