Definitive Healthcare Corp. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

By Globe Newswire Published on September 9, 2023, 01:05 IST

FRAMINGHAM, Mass., Sept. 08, 2023 (GLOBE NEWSWIRE) — Definitive Healthcare (Nasdaq: DH), an industry leader in healthcare commercial intelligence, today announced that in connection with Definitive Healthcare’s acquisition of Populi, Inc. (“Populi”), effective September 6, 2023, the Human Capital Management and Compensation Committee (the “Committee”) of Definitive Healthcare’s Board of Directors granted inducement awards consisting of 551,758 performance-based restricted stock units (“PSUs”) and 274,728 time-based restricted stock units (“RSUs”) to 30 former employees of Populi. These awards include 137,363 PSUs (the “Moschella PSUs”) and 201,467 RSUs (the “Moschella RSUs”) granted to William Moschella, as well as 45,788 PSUs (the “Salmon PSUs”) and 73,261 RSUs (the “Salmon RSUs”) granted to Nathan Salmon, which were individually negotiated. The awards were granted as an inducement material to such individuals’ commencement of employment with Definitive Healthcare in accordance with Nasdaq Listing Rule 5635(c)(4).

The awards are subject to the terms and conditions of Definitive Healthcare’s 2023 Inducement Plan (the “Plan”) and the terms and conditions of an applicable award agreement covering the grant. Except as described below, the PSUs become earned based on performance against certain financial objectives for each of calendar years 2023, 2024, and 2025 (each, a “Performance Period”), and shall vest upon the Committee’s certification of the extent to which the performance goals were attained for the applicable Performance Period, subject to the recipient’s continued service (as defined in the Plan) through the date of such certification.

The Moschella PSUs and the Salmon PSUs become earned based on performance against certain financial objectives for calendar year 2023 and shall vest upon the Committee’s certification of the extent to which the performance goals were attained, subject to the recipient’s continued service through the date of such certification. The Salmon RSUs and 109,891 of the Moschella RSUs vest in three equal installments, with one third of the underlying shares vesting on each of January 1, 2024, January 1, 2025, and January 1, 2026, subject to the recipient’s continued service through such date. The remaining 91,576 Moschella RSUs vest as follows: 50% of the underlying shares will vest on August 1, 2024, with the remaining shares vesting in four equal quarterly installments thereafter.

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