MALVERN, PA — TELA Bio (Nasdaq: TELA) granted restricted stock units covering 89,250 shares to 12 newly hired employees as the medical device maker continues expanding its commercial operations and workforce.
The equity awards were approved by the compensation committee of TELA Bio’s board on May 5 under Nasdaq’s inducement grant exemption, which allows listed companies to issue equity compensation to new employees outside shareholder-approved plans, the company announced.
The restricted stock units will vest in equal annual installments over four years, contingent on continued employment.
The grants were issued as part of compensation packages intended to recruit new employees as TELA Bio scales commercialization of its soft-tissue reconstruction products.
TELA Bio develops biologic-based surgical reconstruction technologies designed to support tissue repair while reducing reliance on permanent synthetic materials in procedures including hernia repair and abdominal wall reconstruction.
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