The Honest Company Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
LOS ANGELES, Nov. 03, 2023 (GLOBE NEWSWIRE) — The Honest Company (NASDAQ: HNST), a digitally-native consumer products company dedicated to creating clean- and sustainably-designed products spanning baby care, beauty, personal care, wellness and household care, today announced that it made an inducement grant to Mr. Dave Loretta in connection with his employment as The Honest Company’s new Chief Financial Officer, effective September 25, 2023. Such grant was made under The Honest Company, Inc. 2023 Inducement Plan, which was approved and adopted on March 14, 2023, by the Company’s Compensation Committee of the Board of Directors. The Compensation Committee granted Mr. Loretta an aggregate of 827,357 restricted stock units under the 2023 Inducement Plan.
The grant was approved by the Compensation Committee on November 1, 2023, pursuant to a delegation by the Board of Directors and was issued as an equity grant pursuant to Nasdaq Listing Rule 5635(c)(4), as an inducement material to Mr. Loretta entering into employment with The Honest Company. The restricted stock units granted are subject to a vesting schedule commencing on November 1, 2023, with 25% of the restricted stock units vesting on August 19, 2024 and an additional 6.25% of the restricted stock units vesting on each quarterly vesting date thereafter, subject to Mr. Loretta’s continued employment.
About The Honest Company. The Honest Company (NASDAQ: HNST) is a digitally-native consumer products company dedicated to creating clean- and sustainably-designed products spanning baby care, beauty, personal care, wellness and household care. Honest products are available via Honest.com, third-party ecommerce customers and approximately 51,000 retail locations across the United States, Canada and Europe. Based in Los Angeles, CA, the Company’s mission, to inspire everyone to love living consciously, is driven by its values of transparency, trust, sustainability and a deep sense of purpose around what matters most to its consumers: their health, their families and their homes. For more information about the Honest Standard and the Company, please visit www.honest.com.
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