Chegg, Inc. (NYSE:CHGG), a leading student-first connected learning platform, today announced that on September 12, 2024, its Compensation Committee granted equity awards pursuant to the Chegg 2023 Equity Inducement Plan.
Four newly hired employees received, in the aggregate, awards of restricted stock units (“RSUs”) representing 124,129 shares of Chegg common stock, in reliance on the employment inducement award exception to New York Stock Exchange Listing Rule 303A.08.
With respect to two of the newly hired employees, 53,725 of the RSUs will fully vest after 12 months of each respective employee’s continuous service.
With respect to one of the newly hired employees, 15,675 of the RSUs will vest with respect to one-half of the shares underlying the award after 12 months of such employee’s continuous service, and the remaining underlying shares will vest in equal quarterly installments for 12 months, after the completion of each full quarter of continuous service thereafter.
With respect to one of the newly hired employees, 54,729 of the RSUs will vest with respect to one-third of the shares underlying the award after 12 months of such employee’s continuous service, and the remaining underlying shares will vest in equal quarterly installments for 24 months, after the completion of each full quarter of continuous service thereafter.
About Chegg
Chegg provides individualized learning support to students as they pursue their educational journeys. Available on demand 24/7 and powered by over a decade of learning insights, the Chegg platform offers students AI-powered academic support thoughtfully designed for education coupled with access to a vast network of subject matter experts who ensure quality. No matter the goal, level, or style, Chegg helps millions of students around the world learn with confidence by helping them build essential academic, life, and job skills to achieve success. Chegg is a publicly held company and trades on the NYSE under the symbol CHGG. For more information, visit www.chegg.com.
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