Cerence ai announces equity grant to employee under inducement plan pursuant to nasdaq listing rule 5635(c)(4)

Burlington, mass., dec. 06, 2024 (globe newswire) -- cerence inc. (nasdaq: crnc) (“cerence ai”), a global industry leader in ai for transportation, today announced that, in connection with antonio (“tony”) rodriquez's recent appointment as executive vice president, chief financial officer effective november 29, 2024, the company granted mr. rodriquez 313,283 time-based restricted stock units and 313,283 performance-based restricted stock units. the time-based restricted stock units will vest in three equal installments on each of october 1, 2025, october 1, 2026, and october 1, 2027, in each case subject to mr. rodriquez's continued service with the company through the applicable vesting date. the performance-based restricted stock units will be earned based on the achievement of the company's performance metrics for each of fiscal year 2025, 2026 and 2027 with one-third of the total performance-based restricted stock units eligible to be earned for each fiscal year, subject to mr. rodriquez's continued service with the company through such vesting date. all of these awards were granted as an inducement material to mr. rodriquez entering into employment with the company pursuant to rule 5635(c)(4) of the nasdaq listing rules.
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