MALVERN, PA — Neuronetics, Inc. (Nasdaq: STIM) granted restricted stock unit inducement awards to six new non-executive employees under its 2020 Inducement Incentive Plan.
The awards were approved by the company’s compensation committee under Nasdaq Listing Rule 5635(c)(4) as material inducements to employment. Vesting is subject to each employee’s continued service through the applicable vesting dates.
Jeffrey Miller received two awards totaling 105,000 restricted stock units. One grant of 70,000 units vests in equal thirds on the first, second and third anniversaries of the grant date, while a second grant of 35,000 units vests in equal thirds on the second, third and fourth anniversaries.
Michael Walsh received 600 restricted stock units, Christina Piacentino received 3,000, Angelo Gonzalez received 2,400, Lori Flint received 2,400 and Carole Corcoran received 9,000.
Those awards vest in equal thirds on the first, second and third anniversaries of the grant date, subject to continued employment.
Neuronetics is a commercial-stage medical technology company focused on neurohealth disorders. The company markets the NeuroStar Advanced Therapy System and operates Greenbrook TMS treatment centers across the United States.
NeuroStar is a non-drug, noninvasive transcranial magnetic stimulation treatment used for major depressive disorder and other cleared indications. The company said more than 7.4 million NeuroStar treatments have been delivered.
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