Etsy Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
BROOKLYN, N.Y., March 19, 2025 /PRNewswire/ -- Etsy, Inc. (Nasdaq: ETSY), which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, today announced that on March 17, 2025, Etsy granted an inducement performance stock unit award consisting of 45,064 shares of Etsy's common stock to Lanny Baker, who joined Etsy as its Chief Financial Officer effective January 1, 2025.
The awards were granted under the Etsy, Inc. 2024 Inducement Plan (the '2024 Inducement Plan') as a material inducement to Mr. Baker's entering into employment with Etsy, in accordance with Nasdaq Listing Rule 5635(c)(4). The performance stock units are earned based on Etsy's achievement of certain performance targets set by Etsy's Compensation Committee, and vest over a three year performance period subject to continued employment with Etsy through each vesting date. The performance stock units are subject to the terms and conditions of the 2024 Inducement Plan and the terms and conditions of a performance stock unit agreement covering the grant.
The 2024 Inducement Plan was adopted by Etsy's Board of Directors on December 12, 2024, and may only be used for grants to employees commencing employment with Etsy, or being rehired following a bona fide period of non-employment, and must provide a material inducement to entering into such employment, pursuant to Nasdaq Listing Rule 5635(c)(4).
About Etsy
Etsy, Inc. operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world. These marketplaces share a mission to 'Keep Commerce Human,' and we're committed to using the power of business and technology to strengthen communities and empower people. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. For sellers, we offer a range of tools and services that address key business needs.
Etsy, Inc.'s 'House of Brands' portfolio also includes Reverb Holdings, Inc. our musical instrument marketplace, and Depop Limited, our fashion resale marketplace. Each Etsy, Inc. marketplace primarily operates independently, while benefiting from shared expertise in product development, marketing, technology, and customer support.
Etsy was founded in 2005 and is headquartered in Brooklyn, New York.
Etsy has used, and intends to continue using, its Investor Relations website and the Etsy News Blog (etsy.com/news) to disclose material non-public information and to comply with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website and the Etsy News Blog in addition to following our press releases, SEC filings, and public conference calls and webcasts.
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