Shapeways Holdings, Inc. Reports Inducement Grants Under NYSE Listing Rule 303A.08
NEW YORK--(BUSINESS WIRE)-- Shapeways Holdings, Inc. (NYSE: SHPW) (“Shapeways” or the “Company”), a leader in the large and fast-growing digital manufacturing industry, today reported that on November 15, 2022 (the “Grant Date”), the Compensation and Human Capital Committee of Shapeways’ Board of Directors (the “Committee”) granted Alberto Recchi 880,000 restricted stock units (“RSUs”), comprising (i) an employment inducement award consisting of 492,957 RSUs under the Company’s 2022 New Employee Equity Incentive Plan (the “Inducement Plan”) and (ii) 387,043 RSUs under the Company’s 2021 Equity Incentive Plan. As previously announced, Mr. Recchi has been appointed as the Company’s new chief financial officer, effective as of October 1, 2022. Mr. Recchi’s RSUs will vest over four years, with 25% of the RSUs vesting on the one-year anniversary of Mr. Recchi’s employment commencement date and 6.25% of the RSUs vesting quarterly thereafter, subject to earlier vesting in connection with a change of control.
In addition, on the Grant Date, the Committee granted an aggregate of 1,357,143 RSUs to 17 newly hired non-executive employees under the Inducement Plan. Each of these RSU awards will vest over four years, with 25% of each RSU award vesting on the one-year anniversary of each employee’s employment commencement date and 6.25% of each RSU award vesting quarterly thereafter, subject to the new employees’ continued service relationship with Shapeways through the applicable vesting dates.
The RSUs granted to the non-executive employees and to Mr. Recchi are subject to the terms and conditions of the applicable award agreements covering such grants and applicable equity incentive plan. The RSUs granted to the non-executive employees and to Mr. Recchi under the Inducement Plan were granted as employment inducement awards in compliance with NYSE Listed Company Manual Rule 303A.08.
Shapeways is a leader in the large and fast-growing digital manufacturing industry combining high quality, flexible on-demand manufacturing powered by purpose-built proprietary software which enables customers to rapidly transform digital designs into physical products, globally. Shapeways makes industrial-grade additive manufacturing accessible by fully digitizing the end-to-end manufacturing process, and by providing a broad range of solutions utilizing 11 additive manufacturing technologies and approximately 100 materials and finishes, with the ability to easily scale new innovation. To date, Shapeways has delivered over 23 million parts to 1 million customers in over 180 countries. To learn more, please visit https://www.shapeways.com.
Special Note Regarding Forward-Looking Statements
Certain statements included in this press release are not historical facts and are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this press release, regarding the Company's strategy, future operations, impact of recent acquisitions, outlook, and prospects are forward-looking statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, financial, geopolitical, legal, and market conditions, including supply chain disruptions and inflationary pressures; failure to realize the anticipated benefits of acquisitions; difficulties integrating acquired companies; ability to retain customers of acquired companies or otherwise expand its customer base; the risk that Shapeways has a history of losses and may not achieve or maintain profitability in the future; the risk that the Company faces significant competition and expects to face increasing competition in many aspects; the risk that the digital manufacturing industry is a relatively new and emerging market and it is uncertain whether it will gain widespread acceptance; the risk that the Company's new and existing solutions and software do not achieve sufficient market acceptance; the loss of key personnel; the inability to timely and effectively scale the Company's platform; the ability to move the Company's manufacturing capabilities without disruption or delay; and those factors discussed under the heading "Risk Factors" in Shapeways’ most recent Form 10-K, most recent Form 10-Q, and other documents Shapeways has filed, or will file, with the SEC. If any of these risks materialize or the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company does not presently know, or that the Company currently believes are immaterial, that could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements reflect the Company's expectations, plans, or forecasts of future events and views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon forward-looking statements.
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Source: Shapeways Holdings, Inc.
Released November 15, 2022