Neuronetics Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
Neuronetics (NASDAQ: STIM) has announced the granting of inducement awards consisting of Restricted Stock Units (RSUs) representing 15,750 shares of common stock to two new non-executive employees. The awards, approved by the company's Compensation Committee under NASDAQ Listing Rule 5635(c)(4), serve as material inducements for employment. These RSUs will vest in equal installments over three years on the first, second, and third anniversaries of the grant date, contingent on continued employment. The awards are governed by the Neuronetics 2020 Inducement Plan.
Positive
- Successful attraction of new talent through equity compensation
Negative
- Potential future dilution of existing shareholders from RSU issuance
News Market Reaction
On the day this news was published, STIM gained 25.73%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
MALVERN, Pa., Feb. 07, 2025 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ: STIM), a commercial stage medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurohealth disorders, today announced the granting of inducement awards of Restricted Stock Units representing a total of 15,750 shares of the Company’s common stock (RSUs) to two new non-executive employees. In accordance with NASDAQ Listing Rule 5635(c)(4), these awards were approved by Neuronetics’ Compensation Committee and made as material inducements to their respective employment with the Company.
Each of the RSU grants vests ratably in equal installments on the first, second, and third anniversaries of the grant date, subject to the recipient’s continued service with the Company through the applicable vesting date. The RSUs are subject to the terms of the Neuronetics 2020 Inducement Plan.
About Neuronetics and Greenbrook
Neuronetics, Inc. (“Neuronetics”) believes that mental health is as important as physical health. As a global leader in neuroscience, Neuronetics is redefining patient and physician expectations by offering exceptional treatments that produce extraordinary results. Neuronetics’ NeuroStar Advanced Therapy for Mental Health is a non-drug, noninvasive treatment that can improve the quality of life for people suffering from neurohealth conditions when traditional medication has not helped. In addition to selling the NeuroStar system and associated treatment sessions to customers, Greenbrook TMS Inc. (“Greenbrook”) operates treatment centers across the United States, offering both NeuroStar Advanced Therapy (transcranial magnetic stimulation or “TMS”) and Spravato® (esketamine nasal spray) for the treatment of major depressive disorder (“MDD”) and other mental health disorders. NeuroStar Advanced Therapy is the leading TMS treatment for MDD in adults with more than 6.9 million treatments delivered and is backed by the largest clinical data set of any TMS treatment system for depression, including the world’s largest depression outcomes registry. Spravato® is offered to treat adults with treatment-resistant depression and depressive symptoms in adults with MDD with suicidal thoughts or actions. Greenbrook has provided more than 1.68 million treatments to over 51,000 patients struggling with depression.
Investor Contact:
Mike Vallie or Mark Klausner
ICR Healthcare
443-213-0499
ir@neuronetics.com
Media Contact:
EvolveMKD
646-517-4220
NeuroStar@evolvemkd.com
FAQ
How many shares of STIM stock were granted as RSUs in February 2024?
What is the vesting schedule for STIM's February 2024 RSU grants?
Under which plan were STIM's February 2024 RSU inducement grants issued?
What is the purpose of STIM's February 2024 RSU grants?
