authID Announces Adoption of Inducement Grant Plan Under Nasdaq Listing Rule 5635(c)(4)
17 January 2024 - 9:30AM
authID Inc. (Nasdaq: AUID), a leading provider of
secure identity verification and authentication solutions, today
announced that on December 21, 2023 the Compensation Committee of
the Company adopted an Inducement Grant Plan (the “Inducement
Plan”), and allocated up to 185,000 shares of common stock of the
Company (“Shares”) to be subject to option awards under the
Inducement Plan (“Options”). The Inducement Plan is intended for
the grant of Options as an inducement to new employees entering
into employment with the Company in accordance with Nasdaq Listing
Rule 5635(c)(4).
During the period from January 2, 2024 through this date, the
Company has granted Options to purchase 25,000, 20,000 and 20,000
Shares respectively to three new employees. The Exercise Prices
range from $9.31 to $9.61. The Company has also agreed to further
grants of Options to purchase 20,000 and 15,000 Shares to new
employees who are expected to commence employment in the next three
weeks. The exercise price for the future Options shall be the
closing price of the AUID shares on the Nasdaq stock market on the
date of grant. All Options will vest in 36 equal
amounts, on a monthly basis, over a period of three years, subject
to continued employment.
About authID
authID (Nasdaq: AUID) ensures cyber-savvy
enterprises “Know Who’s Behind the Device”™ for
every customer or employee login and transaction. Through
its easy-to-integrate, patented, biometric identity platform,
authID quickly and accurately verifies a user’s identity,
eliminating any assumption of ‘who’ is behind a device and
preventing cybercriminals from taking over accounts. authID
combines digital onboarding, FIDO2 login, and biometric
authentication and account recovery, with a fast, accurate,
user-friendly experience – delivering identity verification in
700ms. Establishing a biometric root of trust for each user
that is bound to their accounts and provisioned
devices, authID stops fraud at onboarding, eliminates password
risks and costs, and provides the faster, frictionless, and
more accurate user identity experience demanded by
operators of today’s digital ecosystems. For more information, go
to www.authID.ai.
authID Media Contact
Graham AradGeneral Counselinvestor-relations@authid.ai
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