TELA Bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
TELA Bio, Inc. (NASDAQ: TELA), a medical technology company specializing in soft-tissue reconstruction solutions, has announced the approval of inducement grants by its Board of Directors' Compensation Committee. These grants, issued on August 6, 2024, consist of restricted stock units covering 16,000 shares of common stock, awarded to nine newly-hired employees.
The grants were made under the Nasdaq Rule 5635(c)(4) inducement grant exception, serving as a component of employment compensation and an incentive for accepting positions with TELA Bio. The restricted stock units will vest in equal annual installments over four years, contingent on continued service with the company.
Positive
- Attraction of new talent with stock-based compensation
- Alignment of employee interests with company performance through equity grants
Negative
- Potential dilution of existing shareholders' equity
News Market Reaction
On the day this news was published, TELA declined 1.23%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
MALVERN, Pa., Aug. 09, 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 16,000 shares of its common stock to nine newly-hired employees, with a grant date of August 6, 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
Greg Chodaczek
332-895-3230
ir@telabio.com
FAQ
How many shares of TELA Bio (TELA) were granted as restricted stock units on August 6, 2024?
What is the vesting schedule for the restricted stock units granted by TELA Bio (TELA)?
How many new employees received inducement grants from TELA Bio (TELA) in August 2024?
Under which Nasdaq rule were the inducement grants made by TELA Bio (TELA)?
