Company: IBTA
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001628280-25-017508
Chunk: 45

Company: Ibotta, Inc.
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 45
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 officer and subject to continued service-based vesting criteria but not subject to the achievement of any performance-based or other similar vesting criteria, to the extent that such equity awards were scheduled to vest during the 12-month period following the date of such termination.

Under the change in control and severance agreements with Messrs. Leach and Swanson, the applicable named executive officer will experience a qualifying termination unrelated to a change in control if his employment is terminated (i) outside the period beginning on the date three months before a change in control and ending on (and inclusive of) the date that is the one-year anniversary following that change in control (Change in Control Period) either (A) by us or any of our subsidiaries (Company Group) without “cause” and, following the completion of our initial public offering, other than by reason of death or “disability,” or (B) by the named executive officer for “good reason” (as such terms are defined in the named executive officer’s change in control and severance agreement), or (ii) at any time before the completion of our initial public offering due to the named executive officer’s death or disability. Under the change in control and severance agreement with Mr. Patel, he would have experienced a qualifying termination unrelated to a change in control if his employment was terminated outside the Change in Control Period either (i) by us without “cause” and other than by reason of death or “disability,” or (ii) by him for “good reason” (as such terms are defined in his change in control and severance agreement). Mr. Patel resigned as Chief Financial Officer, effective March 14, 2025, and did not receive any payment under the change in control and severance agreement. Under the change in control and severance agreement with Mr. Jensen, he would have experienced a qualifying termination unrelated to a change in control if his employment was terminated outside the Change in Control Period by the Company Group without “cause” and other than by reason of death or “disability” (as such terms are defined in his change in control and severance agreement).

If a named executive officer experiences a qualifying termination in connection with a change in control (as discussed below), the named executive officer will receive the following benefits if the named executive officer timely signs and does not revoke a release of claims in our favor:

• a lump sum cash payment equal to 150% (or in the case of Messrs. Patel and Jensen, 100%) of the named executive officer