MALVERN, PA — TELA Bio, Inc. (NASDAQ: TELA) announced that its Compensation Committee of the Board of Directors of TELA Bio recently approved inducement grants of stock options to purchase an aggregate of 4,200 shares of its common stock and restricted stock units covering 7,250 shares of its common stock to 10 newly-hired employees, with a grant date of January 18, 2023 (the “Grant Date”). The equity awards 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 stock options have an exercise price equal to $11.80 per share, the closing price of TELA Bio’s common stock as reported on the Nasdaq Global Market on the Grant Date. The stock options have a ten-year term and vest over four years, with 25% of the shares underlying the stock option vesting on the first anniversary of the Grant Date and the remaining 75% of the shares vesting in equal monthly installments over 36 months thereafter. The restricted stock units will vest in equal annual installments over four years. The equity awards are subject to each individual’s continued service with TELA Bio through the applicable vesting dates.
For more information, visit www.telabio.com.
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