VERB Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
September 11 2020 - 4:30PM
VERB Technology Company,
Inc. (NASDAQ: VERB) ("VERB" or the
"Company"), a leader in interactive video-based sales
enablement applications, including interactive livestream
ecommerce, webinar, CRM and marketing applications for
entrepreneurs and enterprises, announced today as required by
Nasdaq Listing Rule 5635(c)(4), that Verb’s Board of Directors
approved the following inducement grants: stock options to purchase
100,000 shares of Verb’s common stock to Steve Deverall,
stock options to purchase 100,000 shares of Verb’s common stock and
a restricted stock award for 247,703 shares of Verb’s common stock
to Dustin Kenyon, and stock options to purchase 25,000 shares of
Verb’s common stock to each of Ben Mosbarger, Jason Etherington and
Nate Babbel. The stock options and restricted stock award
were granted on September 4, 2020 pursuant to Nasdaq Listing Rule
5635(c)(4) as an inducement material to their entering into
employment with Verb.
The options have an exercise price equal to $1.36 per share,
have a five-year term and vest annually in equal installments over
four years on each anniversary of the date of grant. The restricted
stock award vests on January 1, 2021. The equity awards are subject
to each individual’s continued service with Verb through the
applicable vesting dates.
About VERB
VERB Technology Company, Inc. (Nasdaq: VERB) transforms how
businesses attract and engage customers. The Company’s
Software-as-a-Service, or SaaS, platform is based on its
proprietary interactive video technology, and comprises a suite of
sales enablement business software products offered on a
subscription basis. Its software applications are available in over
60 countries and in more than 48 languages to large enterprise and
small business sales teams that need affordable, easy-to-use, and
quick-to-get-results sales tools. Available in both mobile and
desktop versions, the applications are offered as a fully
integrated suite, as well as on a standalone basis, and include
verbCRM (Customer Relationship Management application), verbLEARN
(Learning Management System application), and verbLIVE (Interactive
Livestream eCommerce and Video Webinar application). The Company
has offices in California and Utah. For more information, please
visit: www.verb.tech.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements that
involve risks and uncertainties, including statements regarding
future vesting of inducement grants and continued service of
employees through the applicable vesting dates. These
forward-looking statements involve risks and uncertainties. If any
of these risks or uncertainties materialize, or if any of our
assumptions prove incorrect, our actual results could differ
materially from the results expressed or implied by these
forward-looking statements. These risks and uncertainties include
risks associated with: the COVID-19 pandemic and related public
health measures on our business, customers, markets and the
worldwide economy; our ability to successfully integrate SoloFire’s
operations with our current operations; our plans to attract new
customers, retain existing customers and increase our annual
revenue; the development and delivery of new products, including
verbLIVE; our plans and expectations regarding
software-as-a-service offerings; our ability to execute on,
integrate, and realize the benefits of any acquisitions, including
the SoloFire acquisition; fluctuations in our quarterly results of
operations and other operating measures; increasing competition;
general economic, market and business conditions; and the risks
described in the filings that we make with the Securities and
Exchange Commission (“SEC”) from time to time, including the risks
described under the headings “Risk Factors” and “Management
Discussion and Analysis of Financial Condition and Results of
Operations” in our Annual Report on Form 10-K, which was filed with
the SEC on May 14, 2020, as amended by Amendment No. 1 on Form
10-K/A to our Annual Report on Form 10-K, which was filed with the
SEC on June 4, 2020, and which should be read in conjunction with
our financial results and forward-looking statements contained
therein, and our Quarterly Report on Form 10-Q for the quarter
ended June 30, 2020, which was filed with the SEC on August 14,
2020, and which should be read in conjunction with our financial
results and forward-looking statements contained therein. All
forward-looking statements in this press release are based on
information available to us as of the date hereof, and we do not
assume any obligation to update the forward-looking statements
provided to reflect events that occur or circumstances that exist
after the date on which they were made, except as required by
law.
Investor Relations Contact: 888.504.9929
investors@verb.tech Media
Contact: 855.250.2300, ext.107
info@verb.tech
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