Verra Mobility Corporation filed an 8-K on November 3, 2026, disclosing a one-time inducement equity award granted to Jon Newhard upon his appointment as President and Chief Executive Officer, effective November 1, 2026.

Key Highlights

  • Award size: 1,583,333 time-vested restricted stock units covering shares of Class A common stock, par value $0.0001 per share.
  • Grant value: The award was valued at $4,750,000 on the date of grant, November 2, 2026.
  • Vesting schedule: Three equal annual installments of one-third each on the first three anniversaries of November 1, 2026, subject to continued service as CEO through each vesting date.
  • New CEO: Jon Newhard was appointed President and Chief Executive Officer effective November 1, 2026, pursuant to an employment agreement dated October 1, 2026.
  • Outside the plan: The award was granted as a stand-alone inducement agreement outside of the Verra Mobility Corporation Amended and Restated 2018 Equity Incentive Plan, as amended.
  • Regulatory basis: The award was approved by the Company's Compensation Committee in accordance with Nasdaq Listing Rule 5635(c)(4).

Verra Mobility's Inducement Award to Incoming CEO Jon Newhard

According to the filing, Verra Mobility Corporation (NASDAQ:VRRM) announced on November 3, 2026 that it granted an inducement equity award to Jon Newhard on November 2, 2026, in connection with his appointment as President and Chief Executive Officer. The company disclosed that the award was granted as "an inducement material to Mr. Newhard's employment with the Company" and was approved by the Compensation Committee under Nasdaq Listing Rule 5635(c)(4).

The filing states the award consists of 1,583,333 time-vested restricted stock units covering shares of the company's Class A common stock, with a par value of $0.0001 per share, valued at $4,750,000 on the date of grant. Per the filing, vesting occurs in three equal annual installments of one-third each on the first, second, and third anniversaries of November 1, 2026, described as the "CEO Commencement Date," contingent on Mr. Newhard's continued service as Chief Executive Officer through each respective vesting date.

The company noted the award was granted pursuant to a stand-alone inducement award agreement, separate from the Verra Mobility Corporation Amended and Restated 2018 Equity Incentive Plan, as amended. The filing also references an employment agreement entered into between the company and Mr. Newhard on October 1, 2026. The filing contains forward-looking statements that the company notes are subject to risks and uncertainties described in its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other regulatory filings.

What Was Disclosed

Verra Mobility disclosed a one-time inducement grant of 1,583,333 restricted stock units valued at $4,750,000 to new President and CEO Jon Newhard, granted November 2, 2026, vesting in equal annual thirds over three years beginning November 1, 2027.