11:13 AM EDT, 06/26/2024 (MT Newswires) -- GitLab's ( GTLB ) shares rose nearly 11% in recent Wednesday trading, a day after the company said its board adopted amendments to its existing severance plan.

These changes include modifying the definition of CIC Severance to clarify that a person's equity awards may not be subject to cancellation by the board in connection with a corporate transaction without consideration, the company said in a filing with the US Securities and Exchange Commission.

These amendments apply to certain employees of the company, including executive officers, the company said.

Price: 48.38, Change: +4.78, Percent Change: +10.96