electroCore Announces Inducement Grant under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

electroCore (NASDAQ: ECOR) announced the appointment of Thomas Freeburg as VP, Corporate Controller, effective November 11, 2024. The company's Compensation Committee granted him 5,000 restricted stock units (RSUs) as an inducement for employment under NASDAQ Listing Rule 5635(c)(4). The RSUs will vest equally over three years, with 33% vesting on each anniversary of the grant date, contingent on continued employment. Upon vesting, the RSUs will convert to common stock shares.

ROCKAWAY, N.J., Nov. 08, 2024 (GLOBE NEWSWIRE) -- electroCore, Inc. (the “Company”), (NASDAQ: ECOR), a commercial-stage bioelectronic medicine and wellness company, today announced that Thomas Freeburg will join electroCore, effective November 11, 2024, as the Company’s VP, Corporate Controller. The Compensation Committee of electroCore’s Board of Directors granted 5,000 restricted stock units (“RSUs”) to Mr. Freeburg in connection with the commencement of his employment. The RSUs were granted as an inducement material to Mr. Freeburg’s commencement of employment pursuant to NASDAQ Listing Rule 5635(c)(4). 33% of the RSUs will vest on each of the first, second and third anniversaries of the date of grant, subject to Mr. Freeburg’s continued employment by the Company on the applicable vesting date. Upon vesting, the RSUs shall be settled in shares of the Company’s common stock.

About electroCore, Inc.

electroCore, Inc. is a commercial stage bioelectronic medicine and wellness company dedicated to improving health and promoting general wellness through its non-invasive vagus nerve stimulation (“nVNS”) technology platform. The company’s is focused on the commercialization of medical devices for the management and treatment of certain medical conditions and consumer product offerings utilizing nVNS to promote general wellbeing and human performance in the United States and select overseas markets.

For more information, visit www.electrocore.com.

Contact:
ECOR Investor Relations
(973) 302-9253
investors@electrocore.com

FAQ

When will Thomas Freeburg join electroCore (ECOR) as VP, Corporate Controller?

Thomas Freeburg will join electroCore (ECOR) as VP, Corporate Controller effective November 11, 2024.

How many RSUs did electroCore (ECOR) grant to Thomas Freeburg?

electroCore (ECOR) granted 5,000 restricted stock units (RSUs) to Thomas Freeburg.

What is the vesting schedule for the RSUs granted by electroCore (ECOR)?

The RSUs will vest 33% on each of the first, second, and third anniversaries of the grant date, subject to continued employment.