Sonder Holdings Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

SAN FRANCISCO--(BUSINESS WIRE)--Sonder Holdings Inc. (Nasdaq: SOND) (“Sonder” or the “Company”), a leading global brand of premium, design-forward apartments and intimate boutique hotels serving the modern traveler, today announced that on March 4, 2025, the Compensation Committee of Sonder’s Board of Directors approved the granting of restricted stock units underlying an aggregate of fourteen thousand five hundred shares (14,500) of its common stock to two (2) newly hired employees, and stock options exercisable for an aggregate of one hundred five thousand two hundred forty-five (105,245) shares of its common stock to four hundred sixty-three (463) employees hired from November 13, 2023 to February 24, 2025, each under the Sonder Holdings Inc. 2023 Inducement Equity Incentive Plan, as amended (the “Inducement Plan”). The restricted stock units and stock options were granted as inducements material to the employees entering into employment with Sonder (or one of its subsidiaries) pursuant to Nasdaq Listing Rule 5635(c)(4).

The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Sonder (or one of its subsidiaries), or following a bona fide period of non-employment, as an inducement material to such individuals’ entering into employment with Sonder (or one of its subsidiaries), pursuant to Nasdaq Listing Rule 5635(c)(4).

The restricted stock units vest over three years, with 33% of the award vesting on the first anniversary of the applicable employee’s date of hire, and an additional 1/12th of the award vesting quarterly thereafter, subject to the employee’s continued service through the applicable vesting dates (subject to the terms and conditions of the Inducement Plan and the restricted stock unit award agreement covering the grant).

The stock options have an exercise price of $2.35 per share, which is equal to the closing price of Sonder’s common stock on March 4, 2025 as reported by The Nasdaq Stock Market. The stock options have a ten-year term and vest over four years, with 25% of the shares subject to the award vesting on the first anniversary of the applicable employee’s date of hire, and an additional 1/48th of the shares subject to the award vesting monthly thereafter, subject to the employee’s continued service through the applicable vesting dates (subject to the terms and conditions of the Inducement Plan and the option award agreement covering the grant).

About Sonder

Sonder (Nasdaq: SOND) is a leading global brand of premium, design-forward apartments and intimate boutique hotels serving the modern traveler. Launched in 2014, Sonder offers inspiring, thoughtfully designed accommodations and innovative, tech-enabled service combined into one seamless experience. Sonder properties are found in prime locations in over 40 markets, spanning nine countries and three continents. The Sonder app gives guests full control over their stay. Complete with self-service features, simple check-in and 24/7 on-the-ground support, amenities and services at Sonder are just a tap away, making a world of better stays open to all.

To learn more, visit http://www.sonder.com or follow Sonder on Instagram, LinkedIn or X.

Download the Sonder app on Apple or Google Play.