VERB Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
NEWPORT BEACH, Calif. and SALT LAKE CITY, Sept. 11, 2020 (GLOBE NEWSWIRE) -- 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.
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.
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Released September 11, 2020