These inducement grants of restricted stock units vest between one and four years, subject to continued employment or service through each applicable vesting date. For grants with a one-year vesting term (covering 29,416 restricted stock units in the aggregate), fifty percent will vest on the six-month anniversary of the Closing Date with the balance vesting in two equal quarterly installments thereafter. For grants with a two-year vesting term (covering 182,809 restricted stock units in the aggregate), twenty-five percent will vest on the six-month anniversary of the Closing Date with the balance vesting in six equal quarterly installments thereafter. For grants with a three-year vesting term (covering 102,446 restricted stock units in the aggregate), 16.667% will vest on the six-month anniversary of the Closing Date, with the balance vesting in ten equal quarterly installments thereafter. For grants with four-year vesting term (covering 70,597 restricted stock units in the aggregate), 12.5% will vest on the six-month anniversary of the Closing Date, with the balance vesting in 14 equal quarterly installments thereafter. The inducement grants are subject to the terms and conditions of the Inducement Plan and applicable restricted stock unit agreements.
The inducement grants were approved by Oportun’s
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Forward Looking Statements
This communication contains forward-looking statements regarding Oportun’s (“Oportun,” “we” or “our”) future business expectations which involve risks and uncertainties, including the terms and conditions of awards granted under the Inducement Plan. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “hope,” “intend,” “may,” “might,” “objective,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors relate to, among others: risks and uncertainties related to costs, expenses or difficulties related to integration of the Digit business; failure to realize the expected benefits and synergies of the Digit acquisition; inability to retain key or other personnel; changes in legislation or government regulations affecting us or Digit; and economic, financial, social or political conditions that could adversely affect us or Digit. For additional information on other potential risks and uncertainties that could cause actual results to differ from the results predicted, please see our most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q filed with the
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