WISH Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
November 06 2023 - 3:10PM
ContextLogic Inc. (d/b/a Wish) (NASDAQ: WISH), one of the world’s
largest mobile e-commerce platforms, today announced, as required
by Nasdaq Listing Rule 5635(c)(4), the grant of inducement awards
under Wish’s 2022 New Employee Equity Incentive Plan (the
“Inducement Plan”) to 2 new employees, effective November 2, 2023.
As an inducement for the new employees to enter into employment
in accordance with Nasdaq Listing Rule 5635(c)(4), Wish’s
compensation committee approved the grant of Restricted Stock Units
(“RSUs”) for 69,150 shares of the Company’s Class A common stock
under the Inducement Plan. The RSUs will vest as follows:
- 1 employee received RSU awards, 9,150 shares in the aggregate,
that will vest over time based on the recipient’s continued
service, with 100% of the RSUs vesting on the first Company Vesting
Date after the recipient completes 12 months of continuous service
through the Company Vesting Date. A “Company Vesting Date” means
February 15th, May 15th, August 15th, or November 15th.
- 1 employee received an RSU award of 60,000 shares that will
vest over time based on the recipient’s continued service, with 25%
of the RSUs vesting on the first Company Vesting Date after the
recipient completes 12 months of continuous service following the
vesting commencement date, with an additional 25% of the remaining
RSUs vesting on each Company Vesting Date thereafter.
About Wish:
Wish brings an affordable and entertaining shopping experience
to millions of consumers around the world. Since our founding in
San Francisco in 2010, we have become one of the largest global
ecommerce platforms, connecting millions of value-conscious
consumers to hundreds of thousands of merchants globally. Wish
combines technology and data science capabilities and an innovative
discovery-based mobile shopping experience to create a
highly-visual, entertaining, and personalized shopping experience
for its users. For more information about the company or to
download the Wish mobile app, visit www.wish.com or follow @Wish on
Facebook, Instagram and TikTok or @WishShopping on Twitter and
YouTube. To learn more about Wish, please visit www.wish.com.
Media contact: Carys Comerford-Green
press@wish.com
Investor contact: Ralph Fongir@wish.com
ContextLogic (NASDAQ:WISH)
Historical Stock Chart
From Apr 2024 to May 2024
ContextLogic (NASDAQ:WISH)
Historical Stock Chart
From May 2023 to May 2024