The board of directors of Broomfield-based Noodles & Co.(NASDAQ: NDLS) granted an equity award to Steve Kennedy as an inducement award outside of the company’s 2023 stock incentive plan. This grant was material to Kennedy’s acceptance of employment with the company.
The equity award, which was approved by the board, complies with Nasdaq Listing Rule 5635(c)(4). In connection with Kennedy’s appointment as executive vice President of marketing, the company awarded him 50,000 time-based RSUs. One-fourth of these RSUs will vest on each anniversary of Kennedy’s start date, contingent upon his continued employment with the company on those vesting dates.
