Oportun Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
SAN CARLOS, Calif., Sept. 16, 2022 (GLOBE NEWSWIRE) -- Oportun (Nasdaq:OPRT), a mission-driven fintech company, today announced that on Sep. 10, 2022, it granted a total of 330,460 restricted stock units under the Oportun 2021 Inducement Equity Incentive Plan to 56 new employees who joined Oportun. These inducement grants have a four-year vesting term and 25% will vest on the one-year anniversary of the grant date, with the balance vesting in twelve substantially equal quarterly installments thereafter, subject to continued employment or service through each vesting date.
The inducement grants were approved by Oportun’s Compensation and Leadership Committee of the Board of Directors, as required by Nasdaq Rule 5635(c)(4), and were granted as an inducement material to employment in accordance with Nasdaq Rule 5635(c)(4).
Oportun (Nasdaq: OPRT) is an A.I.-powered digital banking platform that seeks to make financial health effortless for anyone. Driven by a mission to provide inclusive and affordable financial services, Oportun helps its over 1.8 million hardworking members meet their daily borrowing, savings, banking, and investing needs. Since inception, Oportun has provided more than $14 billion in responsible and affordable credit, saved its members more than $2.3 billion in interest and fees, and automatically helped members set aside more than $8.1 billion for rainy days and other needs. In recognition of its responsibly designed products, Oportun has been certified as a Community Development Financial Institution (CDFI) since 2009.