WISH Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
May 11 2022 - 9:00AM
Business Wire
ContextLogic Inc. (d/b/a Wish) (NASDAQ: WISH), one of the
world’s largest mobile e-commerce platforms, today announced, as
required by Nasdaq Listing Rule 5635(c)(4), the grant of an
inducement award under Wish’s 2022 New Employee Equity Incentive
Plan (the “Inducement Plan”) to its new VP, Engineering – Buying
Experience, Raju Kolluru, on May 10, 2022.
As an inducement for Mr. Kolluru to enter into employment in
accordance with Nasdaq Listing Rule 5635(c)(4), Wish’s compensation
committee approved the grant to Mr. Kolluru of Restricted Stock
Units (“RSUs”) for 1,945,945 shares of the Company’s Class A common
stock under the Inducement Plan. The RSUs will vest over
approximately four years of Mr. Kolluru’s service, with 1/16th of
the RSUs vesting on the first Company Vesting Date following Mr.
Kolluru’s commencement of employment, and an additional 1/16th of
the remaining RSUs will vest on each Company Vesting Date
thereafter. The RSU award is subject to Mr. Kolluru’s continuous
service through the applicable vesting dates. A “Company Vesting
Date” means February 15, May 15, August 15, or November 15.
To learn more about Wish, please visit www.wish.com
About Wish:
Wish brings an affordable and entertaining shopping experience
to millions of consumers around the world. Since our founding in
San Francisco in 2010, we have become one of the largest global
ecommerce platforms, connecting millions of value-conscious
consumers to hundreds of thousands of merchants globally. Wish
combines technology and data science capabilities and an innovative
discovery-based mobile shopping experience to create a
highly-visual, entertaining, and personalized shopping experience
for its users. For more information about the company or to
download the Wish mobile app, visit www.wish.com or follow @Wish on
Facebook, Instagram and TikTok or @WishShopping on Twitter and
YouTube.
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version on businesswire.com: https://www.businesswire.com/news/home/20220511005589/en/
Media contact: Carys Comerford-Green press@wish.com
Investor contact: ir@wish.com
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