MALVERN, PA — Neuronetics, Inc. (NASDAQ: STIM) has announced the issuance of inducement awards in the form of Restricted Stock Units (RSUs) to three recently hired non-executive employees. These awards, which cover a total of 24,750 shares of the company’s common stock, were approved by the Compensation Committee and issued under the Neuronetics 2020 Inducement Plan.
The awards were granted as material inducements to the new employees’ acceptance of their roles, in accordance with NASDAQ Listing Rule 5635(c)(4). They are designed to align the employees’ long-term interests with those of the company and its shareholders.
The vesting schedule for the RSUs varies, with a portion vesting in three equal annual installments on the first, second, and third anniversaries of the grant date. Another portion is set to vest in equal installments on the second, third, and fourth anniversaries, contingent upon the recipients’ continued service with the company through each applicable vesting date.
Neuronetics’ decision to offer these inducements exemplifies its effort to attract and retain top talent as the company continues to advance its mission of improving the lives of those dealing with neurohealth challenges.
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