SANTA CLARA, Calif., Jan. 6, 2023 /PRNewswire/ -- eHealth, Inc. (Nasdaq: EHTH) (eHealth.com), a leading private online health insurance marketplace (the "Company"), today announced that on January 1, 2023, pursuant to the terms previously announced by the Company on November 14, 2022, the Compensation Committee of its Board of Directors granted inducement stock unit awards to John Stelben, who joined the Company as Senior Vice President, Chief Financial Officer of the Company on November 14, 2022. Each of these awards was granted under the Company's Amended and Restated 2021 Inducement Plan (the "Inducement Plan") and otherwise will be subject to the terms and conditions of a stock unit agreement under the Inducement Plan.
Mr. Stelben received two stock unit awards. The first stock unit award covers 375,000 shares of the Company's common stock and will be subject to vesting over four years, with 25% vesting on the first anniversary of the vesting commencement date of November 10, 2022, and the remainder vesting in equal quarterly installments over the subsequent three years, subject to Mr. Stelben's continued service with the Company through the vesting date and potential acceleration upon certain terminations of employment. The second stock unit award covers 125,000 shares of the Company's common stock and will become eligible to vest based on the achievement of stock price goals and will then vest on the first anniversary of the date that the hurdle was met (provided that such price targets are met within four years of the grant date of the award), subject to Mr. Stelben's continued service through the vesting date and potential acceleration upon certain terminations of employment.
The stock unit awards were granted as inducements material to Mr. Stelben entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
For more than 25 years, eHealth, Inc. (Nasdaq: EHTH) has served American consumers with innovative technology and licensed agent support to help them find health insurance solutions that fit their personal needs. Through its proprietary health insurance marketplace at eHealth.com and eHealthMedicare.com, eHealth has connected more than eight million members with quality, affordable coverage. eHealth offers Medicare Advantage, Medicare Supplement, Medicare Part D, individual, family, small business, and ancillary plans from approximately 200 health insurance companies nationwide.
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SOURCE eHealth, Inc.