Business
IZEA Reports Inducement Grants Under NASDAQ Listing Rule 5635(C)(4)
ORLANDO, Fla., Dec. 06, 2023 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), a premier provider of influencer marketing technology, data and services
About this update from Izea Worldwide, Inc.
[{"type":"text","content":"ORLANDO, Fla., Dec. 06, 2023 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), a premier provider of influencer marketing technology, data and services for the world’s leading brands, today announced that it granted a total of 338,354 performance-based and time-based restricted stock units (“RSUs”) under the IZEA Worldwide, Inc. 2023 Inducement Plan (the “Inducement Plan”) in connection with its acquisition of Hoozu Holdings Ltd, which transaction closed on December 1, 2023. The performance-based RSU grants, which vest in annual increments over a three-year performance period based upon the achievement of certain revenue and profitability metrics, represent the maximum number of shares that can be earned under the awards. Vesting is also subject to the recipient’s continued service through each annual vesting date. Unearned RSUs will be forfeited if the minimum revenue in each period is not achieved. The Hoozu performance-based grants were issued to Natalie Giddings, Hoozu CEO (109,451 RSUs), Nathan Ruff, Hoozu Regional Business Development Lead (91,209 RSUs), Analise Trotter, Hoozu employee (54,726 RSUs), Lara Mowforth, Hoozu employee (36,484 RSUs) and Alexandra de Lusignan, Hoozu employee (36,484 RSUs). A time-based grant was made to Rob Fuggetta in a separate acquisition transaction that closed on December 1, 2023 (10,000 RSUs). The grants were approved by the company’s Compensation Committee and Board of Directors on November 30, 2023. In accordance with NASDAQ Listing Rule 5635(c)(4), the grants were made as an inducement material to each individual entering into an employment relationship with IZEA and its wholly owned subsidiaries. Each RSU award is subject to the terms and conditions of the Inducement Plan and the terms and conditions of the applicable RSU award agreement covering the grant. About IZEA Worldwide, Inc. IZEA Worldwide, Inc. is a marketing technology company providing software and professional services that enable brands to collaborate and transact with the full spectrum of today’s top social influencers and content creators. The company is a champion for the growing Creator Economy, enabling individuals to monetize their content, creativity and influence. IZEA launched the industry’s first-ever influencer marketing platform in 2006 and has since facilitated nearly 4 million transactions between onli...