RumbleOn Appoints Michael Kennedy as Chief Executive Officer - Seite 2

About RumbleOn

RumbleOn is the largest powersports retailer in North America, offering a wide selection of new and used motorcycles, all-terrain vehicles, utility terrain vehicles, personal watercraft, and other powersports products, including parts, apparel, accessories, and aftermarket products from a wide range of manufacturers. We operate 55 retail locations, each equipped with full service departments, as well as five regional fulfillment centers. Our retail locations are primarily located in the Sun Belt of the United States. To learn more please visit us online at https://www.rumbleon.com/.

Notice Regarding Inducement Grant

In connection with his appointment, Mr. Kennedy was granted an award of performance-based stock options to purchase 825,000 shares of the Company’s Class B common stock, which will vest in installments over five years starting on the grant date, subject to meeting certain stock performance thresholds and Mr. Kennedy’s continued service with the Company through each such vesting date. The award was granted as a material inducement to Mr. Kennedy’s employment and was approved by the Compensation Committee of the Company’s Board of Directors, in accordance with Nasdaq Listing Rule 5635(c)(4). The award was granted outside of the Company’s 2017 Stock Incentive Plan, as amended.

Cautionary Note on Forward-Looking Statements

This press release may contain "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release and are advised to consider the factors listed under the heading "Forward-Looking Statements" and "Risk Factors" in the Company's SEC filings, as may be updated and amended from time to time. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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The RumbleON Registered (B) Stock at the time of publication of the news with a fall of -0,39 % to 6,425EUR on Lang & Schwarz stock exchange (20. Oktober 2023, 13:24 Uhr).