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Frequently Asked Questions
  When is a company required to file the Listing of Additional Shares (LAS) Notification for an equity compensation plan from which it intends to make inducement awards pursuant to Listing Rule 5635(c)(4)?
Identification Number 384
A company is required to notify Nasdaq at least fifteen (15) calendar days prior to establishing or materially amending a stock option plan, purchase plan, or other equity compensation arrangement pursuant to which stock may be acquired by officers, directors, employees, or consultants unless shareholder approval has been obtained. This includes a plan that would be used only for inducement awards (the "Inducement Plan"). As such, the company must notify Nasdaq by filing the LAS Notification at least fifteen calendar days prior to establishing the Inducement Plan. Additionally, when a company makes an award from the Inducement Plan to induce an individual to accept employment, it is required to notify Nasdaq by filing the LAS Notification pursuant to Listing Rule 5250(e)(2)(A)(ii) no later than the earlier of: (1) five calendar days after entering into the agreement to issue the securities; or (2) the date the company discloses the material terms of the grant in a press release.
Publication Date*: 9/9/2021 Mailto Link Identification Number: 384
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