MALVERN, PA — Neuronetics Inc. (NASDAQ: STIM) has appointed healthcare sales executive Robert Greene as senior vice president of sales and awarded him restricted stock units valued at 200,000 shares, a move aimed at strengthening the company’s commercial operations as it seeks broader adoption of its NeuroStar mental health treatment platform.
The appointment became effective June 1, according to the company.
Greene will oversee sales strategy and execution for Neuronetics, which develops and markets NeuroStar Advanced Therapy, a transcranial magnetic stimulation (TMS) system used in the treatment of certain neurohealth disorders.
The hire places an experienced commercial executive in a key leadership role at a time when medical technology companies are increasingly focused on expanding market penetration, improving provider adoption and driving recurring revenue from installed device bases.
Neuronetics indicated that Greene brings experience leading sales organizations and commercial initiatives across healthcare and medical technology markets, including capital equipment and service-based business models.
In connection with his hiring, the compensation committee of the company’s board approved an inducement equity award consisting of restricted stock units representing 200,000 shares of common stock.
The grant was issued under Nasdaq Listing Rule 5635(c)(4), which permits equity awards to newly hired employees outside shareholder-approved compensation plans when used as a material inducement to employment.
The restricted stock units will vest in four equal annual installments, subject to Greene’s continued employment with the company and other plan provisions.
Equity-based compensation remains a common recruitment tool among publicly traded medical technology companies seeking to attract senior executives while aligning compensation with shareholder interests.
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