BROOKLYN, N.Y., Feb. 5, 2025
/PRNewswire/ -- Etsy, Inc. (Nasdaq: ETSY), which operates two-sided
online marketplaces that connect millions of passionate and
creative buyers and sellers around the world, today announced that
effective February 3, 2025, Etsy
granted an inducement restricted stock unit award consisting of
99,593 shares of Etsy's common stock to Lanny Baker, who joined Etsy as its Chief
Financial Officer effective January 1,
2025.
The awards were granted under the Etsy, Inc. 2024 Inducement Plan
(the "2024 Inducement Plan") as a material inducement to Mr.
Baker's entering into employment with Etsy, in accordance with
Nasdaq Listing Rule 5635(c)(4). Twenty-five percent of the
restricted stock units will vest after one year, with the balance
vesting in equal installments every three months over the next
three years, subject to continued employment with Etsy through each
vesting date. The restricted stock units are subject to the terms
and conditions of the 2024 Inducement Plan and the terms and
conditions of a restricted stock unit agreement covering the
grant.
The 2024 Inducement Plan was adopted by Etsy's Board of Directors
on December 12, 2024, and may only be
used for grants to employees commencing employment with Etsy, or
being rehired following a bona fide period of non-employment, and
must provide a material inducement to entering into such
employment, pursuant to Nasdaq Listing Rule 5635(c)(4).
About Etsy
Etsy, Inc. operates two-sided online marketplaces that connect
millions of passionate and creative buyers and sellers around the
world. These marketplaces share a mission to "Keep Commerce Human,"
and we're committed to using the power of business and technology
to strengthen communities and empower people. Our primary
marketplace, Etsy.com, is the global destination for unique and
creative goods. Buyers come to Etsy to be inspired and delighted by
items that are crafted and curated by creative entrepreneurs. For
sellers, we offer a range of tools and services that address key
business needs.
Etsy, Inc.'s "House of Brands" portfolio also includes Reverb
Holdings, Inc. our musical instrument marketplace, and Depop
Limited, our fashion resale marketplace. Each Etsy, Inc.
marketplace primarily operates independently, while benefiting from
shared expertise in product development, marketing, technology, and
customer support.
Etsy was founded in 2005 and is headquartered in Brooklyn, New York.
Etsy has used, and intends to continue using, its Investor
Relations website and the Etsy News Blog (etsy.com/news) to
disclose material non-public information and to comply with its
disclosure obligations under Regulation FD. Accordingly, you should
monitor our investor relations website and the Etsy News Blog in
addition to following our press releases, SEC filings, and public
conference calls and webcasts.
Investor Relations Contact:
Deb Wasser, Vice President, Investor
Relations
Sarah Marx, Director, Investor
Relations
ir@etsy.com
Media Relations Contact:
Lauren Bayse, Sr. Director,
Corporate Communications
press@etsy.com
View original
content:https://www.prnewswire.com/news-releases/etsy-announces-inducement-grant-under-nasdaq-listing-rule-5635c4-302368951.html
SOURCE Etsy, Inc.
