MESA, Ariz., Nov. 3, 2026 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM) (the "Company"), a leading provider of smart mobility technology solutions, announced today that it granted an inducement award to Jon Newhard on November 2, 2026, in connection with Mr. Newhard's appointment as President and Chief Executive Officer of the Company, effective November 1, 2026 (the "CEO Commencement Date"), pursuant to the employment agreement entered into between the Company and Mr. Newhard on October 1, 2026. The award was granted as an inducement material to Mr. Newhard's employment with the Company and was approved by the Company's Compensation Committee, in accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement award consists of a one-time grant of 1,583,333 time-vested restricted stock units covering shares of the Company's Class A common stock, par value $0.0001 per share, valued at $4,750,000 on the date of grant, vesting in three (3) equal annual installments of one-third (1/3) each on each of the first three (3) anniversaries of the CEO Commencement Date, subject to Mr. Newhard's continued service as the Company's Chief Executive Officer through and including each such vesting date.
This award was granted pursuant to a stand-alone inducement award agreement outside of the Verra Mobility Corporation Amended and Restated 2018 Equity Incentive Plan, as amended, and is subject to the terms and conditions of the applicable award agreement.
About Verra Mobility
Verra Mobility Corporation (NASDAQ: VRRM) is a leading provider of smart mobility technology solutions that make transportation safer, smarter and more connected. The company sits at the center of the mobility ecosystem, bringing together vehicles, hardware, software, data and people to enable safe, efficient solutions for customers globally. Verra Mobility's transportation safety systems and parking management solutions protect lives, improve urban and motorway mobility and support healthier communities. The company also solves complex payment, utilization and compliance challenges for fleet owners and rental car companies. Headquartered in Arizona, Verra Mobility operates in North America, Europe, and Australia. For more information, please visit www.verramobility.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that are not historical facts, including those regarding the Company's achievement of its priorities and its other plans, objectives, expectations, business strategies, future operations, financial performance, prospects, and other future events or developments, are forward-looking statements. These forward-looking statements are based on management's current expectations, assumptions, and estimates as of the date of this press release and are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties are described in greater detail under the caption "Risk Factors" in the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the U.S. Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release and except to the extent required by applicable law, the Company does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments, or otherwise.
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SOURCE Verra Mobility