Mesa, Arizona, November 3rd / PRNewswire / -- Verra Mobility Corporation (Nasdaq ticker: VRRM, hereinafter referred to as the "Company") announced today that on November 2, 2026, an incentive award was granted to Jon Newhard in conjunction with his appointment to serve as President and Chief Executive Officer of the Company starting from November 1, 2026. This appointment is based on the employment agreement signed between the Company and Mr. Newhard on October 1, 2026. The award was granted as an important condition to motivate Mr. Newhard to take up a position with the Company and has been approved by the Company's Compensation Committee in accordance with Nasdaq Listing Rule 5635(c)(4).
The incentive award includes a one-time grant of 1,583,333 restricted stock units, which are class A common shares of the company with a par value of $0.0001 per share, valued at $4.75 million on the date of grant. The award will be vested in equal installments over three years following the commencement date of CEO's tenure, with one-third of the shares vesting on each of the first three anniversaries, provided that Mr. Newhard continues to serve as the company's Chief Executive Officer until the respective vesting dates.
This reward is granted in accordance with an independent incentive reward agreement and is not subject to the 2018 Equity Incentive Plan (as amended) revised and restated by Verra Mobility Corporation. It is also governed by the terms and conditions of the applicable reward agreement.
About Verra Mobility
Verra Mobility Corporation (Nasdaq ticker: VRRM) is a leading provider of intelligent mobility technology solutions, dedicated to making transportation safer, smarter, and more connected. The company is at the heart of the mobility ecosystem, integrating vehicles, hardware, software, data, and people to provide safe and efficient solutions for customers worldwide. Verra Mobility's traffic safety systems and parking management solutions help protect lives, improve urban and highway travel, and support healthier communities. The company also addresses complex payment, usage, and compliance challenges for fleet owners and car rental companies. Headquartered in Arizona, its business spans North America, Europe, and Australia. For more information, please visit www.verramobility.com.
Forward-looking Statements
This press release contains “forward-looking statements” as defined by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. All statements in this press release other than historical facts, including those regarding the company’s achievement of its priorities and 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. Actual results may differ significantly from those expressed or implied in these statements. For a more detailed description of these risks and uncertainties, please refer to the “Risk Factors” section in the company’s annual reports filed with the U.S. Securities and Exchange Commission (SEC) under the filing numbers Form 10-K, quarterly reports Form 10-Q, and other documents. These forward-looking statements are only valid as of the date of this press release, and except as required by applicable law, the company assumes no obligation to update or revise any forward-looking statements due to new information, future events and developments, or other reasons.
