MALVERN, PA — Neuronetics, Inc. (NASDAQ: STIM) recently announced the granting of restricted stock units (RSUs) to twelve new employees as inducement awards under its 2020 Inducement Incentive Plan.
The awards were approved by the company’s Compensation Committee in accordance with Nasdaq Listing Rule 5635(c)(4) and serve as a material inducement to employment. Each RSU award vests in equal annual installments, contingent upon continued employment with the company.
The following employees received inducement RSU awards:
- William Kyle – 1,500 RSUs, vesting one-third annually over three years.
- Ryan McCarthy – 1,500 RSUs, vesting one-third annually over three years.
- Cheyenne Chaltraw – 1,500 RSUs, vesting one-third annually over three years.
- Shekenah Lee – 1,500 RSUs, vesting one-third annually over three years.
- Cole Uphoff – 1,500 RSUs, vesting one-third annually over three years.
- Amber Bruce – 1,500 RSUs, vesting one-third annually over three years.
- Roopam Verma – 4,500 RSUs, vesting one-third annually over three years.
- Bhupinder Singh – Two separate awards totaling 18,750 RSUs: one 11,250-unit award vesting over three years, and another 7,500-unit award vesting over four years.
- Katherine Kile – 1,500 RSUs, vesting one-third annually over three years.
- Agmarillis Vanga De Hoyos – 4,500 RSUs, vesting one-third annually over three years.
- Thomas Coles – 600 RSUs, vesting one-third annually over three years.
All vesting is subject to each recipient’s continued employment through the applicable vesting date.
The grants come as Neuronetics continues to expand its workforce to support the adoption of NeuroStar Advanced Therapy, the company’s non-drug, noninvasive treatment for major depressive disorder (MDD), obsessive-compulsive disorder (OCD), and anxiety symptoms associated with depression.
Neuronetics also operates Greenbrook TMS treatment centers nationwide, offering NeuroStar therapy and SPRAVATO® (esketamine) nasal spray for patients with treatment-resistant depression. To date, the company reports more than 7.6 million NeuroStar treatments and over 1.8 million Greenbrook-administered sessions for more than 55,000 patients across the U.S.
The company stated that expanding its team through targeted inducement awards reinforces its commitment to advancing access to innovative, data-driven treatments for patients who have not found success with traditional antidepressant medications.
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