Nevro Announces New Employee Inducement Grants Under NYSE Rule 303A.08

Rhea-AI Summary

Nevro Corp. (NYSE: NVRO), a medical device company focused on chronic pain treatment solutions, has announced the granting of inducement restricted stock unit awards to 10 new non-executive employees. The awards, approved by the Compensation Committee on January 7, 2025, cover 21,026 shares of Nevro's common stock.

The grants were made under the Nevro Corp. 2023 Inducement Award Plan and will vest over a three-year period, contingent upon continued employment. These awards were granted as material inducements to employment in compliance with NYSE Listed Company Manual Rule 303A.08.

Positive

• Stock-based compensation alignment with new employee retention through 3-year vesting period
• Strategic hiring of 10 new non-executive employees indicating company growth

Negative

• Potential dilution of existing shareholders through new stock awards

News Market Reaction – NVRO

+4.70%

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+4.70% News Effect

On the day this news was published, NVRO gained 4.70%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

REDWOOD CITY, Calif., Jan. 21, 2025 /PRNewswire/ -- Nevro Corp. (NYSE: NVRO), a global medical device company that is delivering comprehensive, life-changing solutions for the treatment of chronic pain, announced that on January 7, 2025, the Compensation Committee of the Company's Board of Directors granted inducement restricted stock unit awards covering 21,026 shares of Nevro's common stock to 10 new non-executive employees to induce them to accept employment with Nevro. Each award was granted under the Nevro Corp. 2023 Inducement Award Plan and vests over a three-year period, subject to continued employment with Nevro through each vesting date.

Each award was granted as a material inducement to employment in accordance with the NYSE Listed Company Manual Rule 303A.08.

Internet Posting of Information

Nevro routinely posts information that may be important to investors in the "Investor Relations" section of its website at www.nevro.com. The company encourages investors and potential investors to consult the Nevro website regularly for important information about Nevro.

About Nevro

Headquartered in Redwood City, California, Nevro is a global medical device company focused on delivering comprehensive, life-changing solutions that continue to set the standard for enduring patient outcomes in chronic pain treatment. The company started with a simple mission to help more patients suffering from debilitating pain and developed its proprietary 10 kHz Therapy™, an evidence-based, non-pharmacologic innovation that has impacted the lives of more than 115,000 patients globally. Nevro's comprehensive HFX™ spinal cord stimulation (SCS) platform includes the Senza^® SCS system and support services for the treatment of chronic pain of the trunk and limb and painful diabetic neuropathy.

Nevro also provides minimally invasive treatment options for patients suffering from chronic sacroiliac joint ("SI joint") pain and offers the most comprehensive portfolio of products in the SI joint fusion space, designed to meet the preferences of physicians and varying patient needs in order to improve outcomes and quality of life for patients.

Senza®, Senza II^®, Senza Omnia™, and HFX iQ are the only SCS systems that deliver Nevro's proprietary 10 kHz Therapy. Nevro's unique support services provide every patient with an HFX Coach™ throughout their pain relief journey and every physician with Nevrocloud™ insights for enhanced patient and practice management.

SENZA, SENZA II, SENZA OMNIA, OMNIA, HF10, the HF10 logo, 10 kHz Therapy, HFX, the HFX logo, HFX iQ, the HFX iQ logo, HFX Algorithm, HFX CONNECT, the HFX Connect logo, HFX ACCESS, the HFX Access logo, HFX COACH, the HFX Coach logo, Nevrocloud, RELIEF MULTIPLIED, HFX AdaptivAI, the X logo, NEVRO, and the NEVRO logo are trademarks or registered trademarks of Nevro Corp. Patents covering Senza HFX iQ and other Nevro products are listed at Nevro.com/patents. Bluetooth^® and the Bluetooth symbol are registered trademarks of their respective owners.

To learn more about Nevro, connect with us on LinkedIn, X, Facebook, and Instagram.

Investor and Media Contact:

Angie McCabe
Vice President, Investor Relations & Corporate Communications
angeline.mccabe@nevro.com

 

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SOURCE Nevro Corp.

FAQ

How many shares of NVRO stock were granted in the January 2025 inducement awards?

Nevro granted inducement restricted stock unit awards covering 21,026 shares of common stock.

What is the vesting period for NVRO's January 2025 inducement stock awards?

The inducement stock awards vest over a three-year period, subject to continued employment with Nevro.

How many new employees received NVRO stock inducement awards in January 2025?

Ten new non-executive employees received inducement restricted stock unit awards.

Under which plan were NVRO's January 2025 inducement awards granted?

The awards were granted under the Nevro Corp. 2023 Inducement Award Plan.

What NYSE rule authorized NVRO's January 2025 inducement stock grants?

The inducement awards were granted in accordance with NYSE Listed Company Manual Rule 303A.08.