Lifecore Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
The RSU award and PSU award were granted May 20, 2024 pursuant to the Company’s previously-announced offer letter with Mr. Josephs, and as a material inducement to Mr. Josephs joining Lifecore as President and Chief Executive Officer.
- The RSU award and PSU award were granted May 20, 2024 pursuant to the Company’s previously-announced offer letter with Mr. Josephs, and as a material inducement to Mr. Josephs joining Lifecore as President and Chief Executive Officer.
- The RSU award and PSU award were approved by Lifecore’s compensation committee and were granted as inducement equity awards in accordance with Nasdaq Listing Rule 5635(c)(4) under Lifecore’s Equity Inducement Plan adopted on March 20, 2024 (the “Inducement Plan”).
- The Performance Price is the average Fair Market Values (as defined in the Inducement Plan) of one share of the Company’s common stock over a period of twenty consecutive trading days within the performance period.
- The PSU award is governed by a Performance Stock Unit Award Agreement and the Inducement Plan.