Energous Corporation Grants Inducement Restricted Stock Units to New Employees

Energous Corporation , a leading developer of RF-based charging for wireless power networks, announced that it has issued inducement restricted stock units (“RSUs”) to one new, non-executive employee.

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On November 16, 2022, one new, non-executive employee was issued RSUs covering a total of 7,500 shares of common stock under the Company’s 2017 Equity Inducement Plan (the “Inducement Plan”). The RSUs vest over three years with one-third vesting annually on the anniversary of the applicable employee’s hire date, contingent upon the employee’s continued service through each applicable vesting date. Each RSU is subject to the terms and conditions of the Inducement Plan and the terms and conditions of the respective award agreement covering each granted RSU. The grant of the RSUs was approved by the compensation committee of the Company’s board of directors and was granted as an inducement to the new employee commencing employment with the Company, in accordance with Nasdaq Marketplace Rule 5635(c)(4).

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Energous Corporation is the Wireless Power Network global leader. Its award-winning WattUp solution is the only technology that supports both contact and distance charging through a fully compatible ecosystem. Built atop fast, efficient, and highly scalable RF-based charging technology, WattUp is positioned to offer improvements over older, first-generation coil-based charging technologies in power, efficiency, foreign device detection, freedom of movement and overall cost for industrial and retail IoT, smart homes, smart cities and medical devices. Energous develops silicon-based wireless power transfer (WPT) technologies and customizable reference designs, and provides worldwide regulatory assistance, a reliable supply chain, quality assurance, and sales and technical support to global customers. The company received the world’s first FCC Part 18 certification for at-a-distance wireless charging and has been awarded over 200 patents for its WattUp wireless charging technology to-date.

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