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

Rhea-AI Summary

Nevro Corp. (NYSE: NVRO), a global medical device company focused on chronic pain treatment solutions, has announced new employee inducement grants. On August 7, 2024, the company's Compensation Committee granted restricted stock unit awards covering 10,199 shares of Nevro's common stock to four new non-executive employees. These awards, granted under the Nevro Corp. 2023 Inducement Award Plan, are designed to incentivize new hires and will vest over a three-year period, contingent on continued employment. The grants comply with NYSE Listed Company Manual Rule 303A.08, which allows for inducement awards to attract new talent. Nevro also emphasized its practice of posting important investor information on its website.

Positive

• Attraction of new talent through stock-based compensation
• Compliance with NYSE regulations for inducement awards

Negative

• Potential dilution of existing shareholders' stock value

REDWOOD CITY, Calif., Aug. 14, 2024  /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 August 7, 2024, the Compensation Committee of the Company's Board of Directors granted inducement restricted stock unit awards covering 10,199 shares of Nevro's common stock to four 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 recently added a minimally invasive treatment option for patients suffering from chronic sacroiliac joint ("SI joint") pain and now provides 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 HFX Coach™ support throughout their pain relief journey and every physician with HFX Cloud™ 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, HFX CLOUD, the HFX Cloud logo, RELIEF MULTIPLIED, 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.

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

What type of inducement grants did Nevro (NVRO) announce on August 14, 2024?

Nevro announced restricted stock unit awards covering 10,199 shares of common stock granted to four new non-executive employees on August 7, 2024.

How do the inducement grants for Nevro (NVRO) employees vest?

The inducement grants vest over a three-year period, subject to continued employment with Nevro through each vesting date.

Under which plan were Nevro's (NVRO) new employee inducement grants awarded?

The inducement grants were awarded under the Nevro Corp. 2023 Inducement Award Plan.

What NYSE rule does Nevro's (NVRO) inducement grant comply with?

Nevro's inducement grants comply with NYSE Listed Company Manual Rule 303A.08, which allows for material inducements to employment.