iRobot Corp. announced on March 21, 2025, that it granted an equity award as a material inducement for the employment of Kevin Lanouette, its newly-hired Senior Vice President and General Counsel. The grant was effective on March 21, 2025.
The inducement award consists of 120,000 time-based restricted stock units (RSUs). These RSUs are structured to vest over a three-year period, subject to Mr. Lanouette's continuous employment on each vesting date.
This award was approved by iRobot's Board of Directors in accordance with Nasdaq Listing Rule 5635(c)(4) and was granted outside of the company's equity incentive plan. It reflects the company's strategy to attract and retain experienced executives to support its ongoing strategic initiatives.
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