Devolver Digital has granted 7,081,612 shares of common stock to employees under its 2022 Long Term Incentive Plan, representing 1.5% of the company's outstanding share capital.
02
The new equity awards increase total dilution from all outstanding share options and grants to 12.7%.
03
Vesting for Performance Stock Units is tied to 2027 fiscal year organic revenue and EBITDA targets, requiring at least 90% achievement to begin vesting and 110% for full realization.
04
Senior management, including the CFO, face stricter conditions where Restricted Stock Units will lapse entirely if EBITDA targets fall below 60%.
05
The equity grants are effective January 1, 2025, and utilize a tiered vesting structure with two-year or three-year cliffs based on recipient seniority.
06
Company co-founders—the CEO, COO, and CMO—are excluded from this equity grant and will continue to receive performance-linked cash bonuses instead.
Insights
01
Devolver Digital has granted 7,081,612 shares of common stock to employees under its 2022 Long Term Incentive Plan, representing 1.5% of the company's outstanding share capital.
02
The new equity awards increase total dilution from all outstanding share options and grants to 12.7%.
03
Vesting for Performance Stock Units is tied to 2027 fiscal year organic revenue and EBITDA targets, requiring at least 90% achievement to begin vesting and 110% for full realization.
04
Senior management, including the CFO, face stricter conditions where Restricted Stock Units will lapse entirely if EBITDA targets fall below 60%.
05
The equity grants are effective January 1, 2025, and utilize a tiered vesting structure with two-year or three-year cliffs based on recipient seniority.
06
Company co-founders—the CEO, COO, and CMO—are excluded from this equity grant and will continue to receive performance-linked cash bonuses instead.