NEWTOWN, PA — Helius Medical Technologies, Inc. (Nasdaq: HSDT) announced that effective May 18, 2023, its independent directors approved an equity award under Helius’ 2021 Inducement Plan, as a material inducement to an individual entering into employment with the Company. The equity award was approved in accordance with Nasdaq Listing Rule 5635(c)(4), which also requires a public announcement of equity awards that are not made under a stockholder-approved equity plan.
In connection with entering into employment with Helius, the individual, who was not a previous employee or director of Helius, received an option to purchase 25,000 shares of the Company’s Class A common stock. The option award has an exercise price of $0.161 per share, the closing price of Helius’ common stock on May 18, 2023, the date of the grant. The option has a ten-year term and vests over a period of four years, with 25% vesting on each on June 30th of 2024, 2025, 2026 and 2027, provided the new hire’s employment is continuing on each such date, and subject to acceleration or forfeiture upon the occurrence of certain events as set forth in the new hire’s option agreement.
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