TELA Bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
TELA Bio (NASDAQ: TELA) announced that its Compensation Committee has approved inducement grants of restricted stock units (RSUs) to three new employees. The grants, totaling 1,700 shares of common stock, were issued on December 11, 2024. These RSUs will vest in equal annual installments over four years, contingent on continued employment. The grants were made under Nasdaq Rule 5635(c)(4) as part of the employees' compensation packages and to incentivize their acceptance of employment with the company.
Positive
- Successful attraction of new talent with equity compensation
Negative
- Minor shareholder dilution from 1,700 new shares
News Market Reaction
On the day this news was published, TELA gained 0.72%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
MALVERN, Pa., Dec. 13, 2024 (GLOBE NEWSWIRE) -- TELA Bio, Inc. ("TELA Bio") (NASDAQ: TELA), a commercial-stage medical technology company focused on providing innovative soft-tissue reconstruction solutions, today announced that the Compensation Committee of the Board of Directors of TELA Bio approved inducement grants of restricted stock units covering 1,700 shares of its common stock to three newly-hired employees, with a grant date of December 11, 2024 (the "Grant Date"). The restricted stock units were granted pursuant to the Nasdaq Rule 5635(c)(4) inducement grant exception as a component of each individual's employment compensation and were granted as an inducement material to his or her acceptance of employment with TELA Bio.
The restricted stock units will vest in equal annual installments over four years, subject to each individual's continued service with TELA Bio through the applicable vesting dates.
About TELA Bio, Inc.
TELA Bio, Inc. (NASDAQ: TELA) is a commercial-stage medical technology company focused on providing innovative technologies that optimize clinical outcomes by prioritizing the preservation and restoration of the patient's own anatomy. The Company is committed to providing surgeons with advanced, economically effective soft-tissue reconstruction solutions that leverage the patient's natural healing response while minimizing long-term exposure to permanent synthetic materials. For more information, visit www.telabio.com.
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations are forward-looking statements and reflect the current beliefs of TELA Bio's management. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors that could cause actual results and events to differ materially and adversely from those indicated by such forward-looking statements. These risks and uncertainties are described more fully in the "Risk Factors" section and elsewhere in our filings with the Securities and Exchange Commission and available at www.sec.gov, including in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Any forward-looking statements that we make in this announcement speak only as of the date of this press release, and TELA Bio assumes no obligation to update forward-looking statements whether as a result of new information, future events or otherwise after the date of this press release, except as required under applicable law.
Investor Contact
Louisa Smith
ir@telabio.com
FAQ
How many shares were granted in TELA Bio's December 2024 inducement grants?
What is the vesting schedule for TELA Bio's December 2024 RSU grants?
When were TELA Bio's latest inducement grants approved?
Under which Nasdaq rule were TELA Bio's inducement grants issued?
