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

Rhea-AI Summary

Nevro Corp. (NYSE: NVRO) has granted inducement restricted stock unit awards to 24 new non-executive employees. The awards, covering 37,726 shares of Nevro's common stock, were granted on November 7, 2024, under the company's 2023 Inducement Award Plan. These grants, approved by the Compensation Committee of Nevro's Board of Directors, will vest over a three-year period, contingent on continued employment. The awards were issued in accordance with NYSE Listed Company Manual Rule 303A.08 as material inducements to employment.

Positive

• Stock-based compensation structure implemented to attract new talent
• Three-year vesting period promotes employee retention

Negative

• Potential shareholder dilution from 37,726 new shares
• Additional stock-based compensation expenses impact financial statements

News Market Reaction

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+11.06% News Effect

On the day this news was published, NVRO gained 11.06%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

REDWOOD CITY, Calif., Nov. 15, 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 November 7, 2024, the Compensation Committee of the Company's Board of Directors granted inducement restricted stock unit awards covering 37,726 shares of Nevro's common stock to 24 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 100,000 patients globally. Nevro's comprehensive HFX™ spinal cord stimulation (SCS) platform includes a Senza SCS system and support services for the treatment of chronic pain of the trunk and limb and painful diabetic neuropathy.

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 were granted in Nevro's (NVRO) November 2024 inducement awards?

Nevro granted inducement restricted stock unit awards covering 37,726 shares of common stock.

What is the vesting period for Nevro's (NVRO) November 2024 inducement grants?

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

How many employees received Nevro's (NVRO) November 2024 inducement grants?

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

Under which plan were Nevro's (NVRO) November 2024 inducement grants issued?

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