iRobot Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

iRobot Corp., a prominent company in consumer robotics, announced that it has granted equity awards to Jeff Engel, the company's newly appointed President and Chief Operating Officer. These awards were given as a significant incentive for his acceptance of the position.

In connection with the appointment of Jeff Engel as President and Chief Operating Officer, effective August 6, 2024, iRobot granted him inducement awards. These include (a) 188,955 time-based restricted stock units (RSUs) and (b) 181,545 performance-based restricted stock units (PSUs), with a grant date of September 6, 2024. The RSUs will vest over three years, contingent upon Engel’s continued employment on each vesting date. The PSUs will vest in three tranches over a four-year period, based on Engel's employment during the relevant service period and iRobot’s achievement of specific stock price milestones.

These inducement awards, granted as an employment incentive, were approved by iRobot's Board of Directors on September 6, 2024, in compliance with Rule 5635(c)(4) of The NASDAQ Stock Market LLC. The awards were made outside of iRobot's existing equity incentive plan.