iRobot Announces Inducement Grant under Nasdaq Listing Rule 5635(c)(4)
BEDFORD, Mass., March 21, 2025 /PRNewswire/ -- iRobot Corp. (NASDAQ:IRBT), a leader in consumer robots, today announced that it granted an equity award as a material inducement to the employment of the company's newly-hired Senior Vice President and General Counsel, Kevin Lanouette.
Notice of Issuance of Inducement Grant
In connection with the appointment of Mr. Lanouette as Senior Vice President and General Counsel effective January 17, 2025, iRobot granted Mr. Lanouette an employment inducement award consisting of 120,000 time-based restricted stock units ("RSUs") with an effective grant date of March 21, 2025. The RSUs will vest over a three-year period, subject to Mr. Lanouette's continuous employment on each vesting date.
The inducement award to Mr. Lanouette was granted as a material inducement to his employment and was approved by iRobot's Board of Directors in accordance with Rule 5635(c)(4) of The NASDAQ Stock Market LLC. The award was granted outside iRobot's equity incentive plan.
About iRobot Corp.
iRobot is a global consumer robot company that designs and builds thoughtful robots and intelligent home innovations that make life better. iRobot introduced the first Roomba robot vacuum in 2002. Today, iRobot is a global enterprise that has sold more than 50 million robots worldwide. iRobot's product portfolio features technologies and advanced concepts in cleaning, mapping and navigation. Working from this portfolio, iRobot engineers are building robots and smart home devices to help consumers make their homes easier to maintain and healthier places to live. For more information about iRobot, please visit www.irobot.com.
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SOURCE iRobot Corporation