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Sezzle Inc. (NASDAQ:SEZL) announced Monday that its board of directors has approved an amendment to the company’s 2021 Equity Incentive Plan. The update, which was recommended by the compensation committee and approved on July 31, permits the company to facilitate sales by a third-party administrator of shares of common stock issued upon settlement of incentive awards. These sales, known as sell-to-cover transactions, are intended to cover tax withholding obligations for participants in the plan.
The amendment also allows Sezzle to delay the settlement of incentive awards that vest during blackout periods, when trading in the company’s common stock is restricted under Sezzle’s Securities Trading Policy. If a participant does not provide the required tax withholding amount in cash at the time of vesting, the company may postpone the settlement of the award until trading restrictions are lifted, but not beyond the short-term deferral period allowed under IRS deferred compensation rules.
All holders of outstanding incentive awards under the plan, including Sezzle’s principal executive officer, principal financial officer, and other named executive officers, have acknowledged in writing that the terms of the amendment apply to their awards.
This information is based on a statement included in Sezzle’s recent filing with the Securities and Exchange Commission.
In other recent news, Sezzle Inc. reported impressive financial results for the first quarter of 2025. The company’s revenue reached $104.9 million, representing a 123% increase compared to the previous year. Net income also saw substantial growth, climbing to $36.2 million, which is a 286% rise from the same period last year. These figures surpassed market expectations, highlighting Sezzle’s strong performance. Additionally, Sezzle has initiated a lawsuit against Shopify Inc (NASDAQ:SHOP)., alleging antitrust violations. The legal action, filed in the U.S. District Court for the District of Minnesota, claims that Shopify’s practices limit competition for buy now, pay later services on its platform. Sezzle is seeking an injunction to stop these alleged monopolistic behaviors and is pursuing treble damages. These developments underscore a significant period for Sezzle, both in terms of financial success and legal challenges.
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