Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
transaction | NOW | Employee Stock Option (Right to Buy) | Award | $10.3M | +15.7K | +100% | $655.94 | 31.3K | May 9, 2023 | Common Stock | 15.7K | $655.94 | Direct | F1 |
Id | Content |
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F1 | As the Issuer has previously disclosed, on Dec. 13, 2021, a Performance Stock Option ("PSO") was granted to the Reporting Person. The Issuer also disclosed that there are eight separate tranches to the PSO and any tranche may vest only if both subscription revenue and stock price performance metrics are met, in addition to service requirements. The performance period in which the performance targets may be met is from Oct. 29, 2021 to and including Sept. 30, 2026. On May 9, 2023, the Issuer's Compensation Committee certified achievement of the subscription revenue metric for Tranche Two of the PSO. Despite having met this performance metric, the shares for Tranche One and Tranche Two have not yet vested. They may vest, if at all, only if: (i) the achievements of the stock price metrics for Tranche One and Tranche Two are certified; and (ii) the Reporting Person serves as an employee of the Issuer on such vesting date and further provided that no vesting may occur before Dec. 13, 2023. |