MALVERN, PA — Neuronetics, Inc. (NASDAQ: STIM) this week announced the granting of inducement awards to eight new non-executive employees. In accordance with NASDAQ Listing Rule 5635(c)(4), the award was approved by Neuronetics’ Compensation Committee and made as a material inducement to each employee’s entry into employment with the Company.
In connection with the commencement of their employment, the Company granted 37,518 Restricted Stock Units (“RSUs”) with a fair value estimated at the date of grant based on the grant date fair value of the Company’s common stock equal to the closing trading price on the Nasdaq Global Select Market.
The RSUs vest ratably in three equal installments on the first, second and third anniversaries of the grant date, subject to the employee’s continued service with the Company through the applicable vesting date. The RSUs are subject to the terms of the Neuronetics 2020 Inducement Plan.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and Microsoft Start.