THE HONEST COMPANY ANNOUNCES INDUCEMENT GRANT UNDER NASDAQ LISTING RULE 5635(4)
May 23, 2023 at 11:14 am EDT
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LOS ANGELES - The Honest Company (NASDAQ: HNST), a digitally-native consumer products company dedicated to creating clean- and sustainably-designed products spanning baby care, beauty, personal care, wellness and household care, today announced that it made an inducement grant to Ms. Kate Barton in connection with her employment as The Honest Company's new Chief Growth Officer, effective May 8, 2023. Such grant was made under The Honest Company, Inc. 2023 Inducement Plan, which was approved and adopted on March 14, 2023, by the Company's Compensation Committee of the Board of Directors. The Compensation Committee granted Ms. Barton an aggregate of 843,565 restricted stock units under the 2023 Inducement Plan.
The grant was approved by the Compensation Committee on May 18, 2023, pursuant to a delegation by the Board of Directors and was issued as an equity grant pursuant to Nasdaq Listing Rule 5635(4), as an inducement material to Ms. Barton entering into employment with The Honest Company. The restricted stock units granted are subject to a vesting schedule commencing on May 18, 2023, with 25% of the restricted stock units vesting on the Company's first quarterly vesting date following the one-year anniversary of the grant date and an additional 6.25% of the restricted stock units vesting on each quarterly vesting date thereafter, subject to Ms. Barton's continued employment.
About The Honest Company. The Honest Company (NASDAQ: HNST) is a digitally-native consumer products company dedicated to creating clean- and sustainably-designed products spanning baby care, beauty, personal care, wellness and household care. Honest products are available via Honest.com, third-party ecommerce customers and approximately 50,000 retail locations across the United States, Canada and Europe. Based in Los Angeles, CA, the Company's mission, to inspire everyone to love living consciously, is driven by its values of transparency, trust, sustainability and a deep sense of purpose around what matters most to its consumers: their health, their families and their homes. For more information about the Honest Standard and the Company, please visit www.honest.com.
The Honest Company, Inc. is a personal care company focused on creating clean- and sustainably designed products. It is an omnichannel brand, where its products are available through its retail and digital channels. Its three product categories are diapers and wipes, skin and personal care, and household and wellness. Diapers and wipes product category have primary components of its Clean Conscious diapers are made with sustainably harvested, plant-based fluff pulp and other plant-derived materials. The Company's skin and personal care products use clean and safe ingredients, including many naturally derived ingredients. The household and wellness product category includes baby clothing, pre-and post-natal vitamins, wellness supplements, sanitizing wipes, and hand sanitizer made with plant-based ingredients. The Company's products are available online at www.honest.com. The Companyâs distribution network includes two warehouses in Nevada and Pennsylvania.