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.