Evolus Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Evolus, Inc. (EOLS) granted non-qualified stock options and restricted stock units to 8 new non-executive employees. The awards were approved under the 2023 Inducement Incentive Plan, with an exercise price of $14.79 per share. The stock options have a 10-year term and vest over 4 years, while the RSUs vest 25% annually. The awards are subject to employment conditions.

NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- Evolus, Inc. (NASDAQ: EOLS), a performance beauty company with a focus on building an aesthetic portfolio of consumer brands, today reported the grant of non-qualified stock options to purchase an aggregate of 11,355 shares of Evolus and an aggregate of 82,730 restricted stock units (RSUs) of the company’s common stock to 8 newly hired non-executive employees of the company. The awards were approved by the compensation committee of the company’s board of directors under the Evolus’ 2023 Inducement Incentive Plan, with a grant and vesting commencement date of March 7, 2024, as an inducement material to the new employees entering into employment with Evolus in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock options have an exercise price of $14.79 per share, the closing price of Evolus’ common stock on the date of grant. The stock options have a 10-year term and vest over 4 years, with 25% of the number of shares subject to the option vesting on each annual anniversary of the vesting commencement date. The RSUs vest 25% on each annual anniversary of the vesting commencement date. The awards are subject to the terms and conditions of the 2023 Inducement Incentive Plan and the terms and conditions of the stock option agreement or RSU agreement, as applicable, covering the grant, including requirements to remain continuously employed on each vesting date.

About Evolus, Inc.

Evolus (Nasdaq: EOLS) is a global performance beauty company evolving the aesthetic neurotoxin market for the next generation of beauty consumers through its unique, customer-centric business model and innovative digital platform. Our mission is to become a global, multi-product aesthetics company based on our flagship product, Jeuveau^® (prabotulinumtoxinA-xvfs), the first and only neurotoxin dedicated exclusively to aesthetics and manufactured in a state-of-the-art facility using Hi-Pure™ technology. Evolus is expanding its product portfolio having entered into a definitive agreement to be the exclusive U.S. distributor of Evolysse™, and the exclusive distributor in Europe of Estyme^®, a line of unique dermal fillers currently in late-stage development. Visit us at www.evolus.com, and follow us on LinkedIn, X, Instagram or Facebook.

Jeuveau^®, Nuceiva^®, and Evolysse™ are trademarks of Evolus, Inc.
Hi-Pure^™ is a trademark of Daewoong Pharmaceutical Co, Ltd.
Estyme^® is a trademark of Symatese Aesthetics S.A.S.

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Investors:

Nareg Sagherian

Vice President, Head of Global Investor Relations and Corporate Communications

Tel: 248-202-9267

Email: ir@evolus.com

Media:

Email: media@evolus.com

Source: Evolus

How many shares of Evolus were granted as non-qualified stock options?

11,355 shares were granted as non-qualified stock options.

What is the exercise price of the stock options granted by Evolus?

The exercise price of the stock options is $14.79 per share.

Under which plan were the awards approved?

The awards were approved under Evolus' 2023 Inducement Incentive Plan.

What is the vesting schedule for the stock options and RSUs?

The stock options vest over 4 years, with 25% annually, while the RSUs also vest 25% annually.

What conditions apply to the awards granted by Evolus?

The awards are subject to employment conditions as per the 2023 Inducement Incentive Plan and the stock option or RSU agreement.