Shares in Boston-based Amwell® (NYSE: AMWL), a leading technology-enabled care platform provider saw its shares climb near noon EST on Friday. The company announced that on Feb. 18, it made grants of RSUs covering an aggregate of 16,737 shares of its Class A common stock to four new employees. The grants were offered as material inducement to the employees’ employment with Amwell.
The RSUs will vest as follows, subject to the applicable employee’s continued employment through the applicable vesting date: 25% of the RSUs will vest upon the first anniversary of the grant date and the remaining 75% of the RSUs will vest in equal pro rata increments every three months thereafter (beginning on the first calendar day of the month following the date that is three months following the Initial Vesting Date) for three years until such RSUs are vested in full.
The grants described in this press release were approved by the Compensation Committee of the Amwell’s Board of Directors pursuant to the Amwell’s Inducement Plan and made in reliance on the employment inducement exemption under the NYSE’s Listed Company Manual Rule 303A.08. Amwell is issuing this press release pursuant to Rule 303A.08.
AMWL shares captured 20 cents, or 1.7%, to $12.26.
