MALVERN, PA — TELA Bio, Inc. (NASDAQ: TELA) this week announced that the Compensation Committee of the Board of Directors of TELA Bio approved inducement grants of stock options to purchase an aggregate of 15,450 shares of its common stock to 8 newly-hired employees, with a grant date of December 7, 2022.
The stock options 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 $9.58 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, subject to each individual’s continued service with TELA Bio through the applicable vesting dates.
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