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Skillsoft Announces Inducement Grant Under NYSE Rule 303A.08

June 06, 2024 at 16:05 PM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

Skillsoft Corp. (NYSE: SKIL) ("Skillsoft" or the “Company”), a leading platform for transformative learning experiences, today announced that on June 4, 2024, the Compensation Committee of Skillsoft's Board of Directors made a grant to Darren Bance of 40,000 restricted stock units (“RSUs”) in respect of the Company’s Class A common stock. The grant of RSUs was offered as a material inducement to Mr. Bance’s hiring as General Manager of Skillsoft Global Knowledge. Mr. Bance joined the Company on May 6, 2024. The RSUs were granted under the Skillsoft Corp. 2024 Employment Inducement Incentive Award Plan and vest (i) with respect to 75% of such RSUs, ratably over four years, and (ii) with respect to 25% of such RSUs, based on the achievement of both time- and performance-based vesting conditions, as determined by the Board of Directors, in each case, subject to Mr. Bance’s continued employment with the Company through each vesting date.

The awards were granted in reliance on the employment inducement exemption under the NYSE’s Listed Company Manual Rule 303A.08, which requires public announcement of inducement awards. The Company is issuing this press release pursuant to Rule 303A.08.

About Skillsoft

Skillsoft (NYSE: SKIL) delivers transformative learning experiences that propel organizations and people to grow together. The Company partners with enterprise organizations and serves a global community of learners to prepare today’s employees for tomorrow’s economy. With Skillsoft, customers gain access to blended, multimodal learning experiences that do more than build skills, they grow a more capable, adaptive, and engaged workforce. Through a portfolio of best-in-class content, a platform that is personalized and connected to customer needs, world-class tech and a broad ecosystem of partners, Skillsoft drives continuous growth and performance for employees and their organizations by overcoming critical skill gaps and unlocking human potential.