CHICAGO, November 18, 2022 – GoHealth, Inc. (GoHealth) (NASDAQ: GOCO), a leading health insurance marketplace and Medicare-focused digital health company, today reported that on November 14, 2022, the Company granted equity-based awards pursuant to the Company’s 2021 Inducement Award Plan to Jay Sreedharan, the Company’s newly hired chief technology officer. The inducement grant was approved by a majority of the Company’s Independent Directors and was made as a material inducement to the employee’s acceptance of employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of his employment compensation.
The inducement grant consisted of 2,500,000 restricted stock units (“RSUs”) for shares of the Company’s common stock. Due to the reverse stock split effectuated by GoHealth on November 17, 2022, such grant will be equitably adjusted to consist of 166,666 RSUs.
The RSUs vest over three years, with 1/3rd of each vesting on November 14 of 2023, 2024 and 2025. The vesting of each grant is subject to the employee’s continued service with the Company through the applicable vesting date. The inducement grant is subject to the terms and conditions of award agreements covering the grant and the Company’s 2021 Inducement Stock Incentive Plan.
