Bioventus Announces Inducement Equity to President and Chief Executive Officer Robert Claypoole

Rhea-AI Summary

Bioventus Inc. (Nasdaq: BVS) issued inducement equity awards to Robert Claypoole as President and CEO, consisting of 375,000 restricted share units and options to purchase 850,000 shares of the Company's Class A common stock. The awards will vest in four equal installments on the first four anniversaries of January 10, 2024, subject to continued employment. The exercise price for the options is $4.89. The awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).

DURHAM, N.C., Jan. 12, 2024 (GLOBE NEWSWIRE) -- Bioventus Inc. (Nasdaq: BVS) (“Bioventus” or the “Company”), a global leader in innovations for active healing, announced today the issuance on January 11, 2024 of previously disclosed inducement equity awards to Robert (Rob) Claypoole in connection with this appointment as President and Chief Executive Officer, and Principle Executive Officer of the Company.

The awards consist of 375,000 restricted share units and options to purchase 850,000 shares of the Company’s Class A common stock. Both awards will vest in four equal installments on the first four anniversaries of January 10, 2024, subject to Mr. Claypoole’s continued employment with the Company through each applicable vesting date. The exercise price for the options is $4.89.

The awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).

About Bioventus
Bioventus delivers clinically proven, cost-effective products that help people heal quickly and safely. Its mission is to make a difference by helping patients resume and enjoy active lives. The Innovations for Active Healing from Bioventus include offerings for Pain Treatments, Restorative Therapies and Surgical Solutions. Built on a commitment to high quality standards, evidence-based medicine and strong ethical behavior, Bioventus is a trusted partner for physicians worldwide. For more information, visit www.bioventus.com and follow the Company on LinkedIn and Twitter. Bioventus and the Bioventus logo are registered trademarks of Bioventus LLC.

Investor and Media Inquiries:
Dave Crawford
919-474-6787
Dave.Crawford@bioventus.com  

FAQ

What is the ticker symbol for Bioventus Inc.?

The ticker symbol for Bioventus Inc. is BVS.

What type of awards were issued to Robert Claypoole?

Robert Claypoole received 375,000 restricted share units and options to purchase 850,000 shares of Bioventus Inc.'s Class A common stock.

How will the awards vest?

The awards will vest in four equal installments on the first four anniversaries of January 10, 2024, subject to Mr. Claypoole’s continued employment with the Company through each applicable vesting date.

What is the exercise price for the options?

The exercise price for the options is $4.89.

What rule were the awards approved in accordance with?

The awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).