Bioventus Announces Inducement Equity to SVP Chief Financial Officer Mark Singleton

Rhea-AI Summary

Bioventus (Nasdaq: BVS) announced the issuance of equity inducement awards to Mark Singleton, newly appointed Senior Vice President and CFO, on April 4, 2022. The awards entail 74,500 restricted share units and options to purchase 223,200 shares of Class A common stock. These will vest in four equal installments over four years, contingent upon Mr. Singleton's continued employment. The options carry an exercise price of $13.29. This decision was made in compliance with Nasdaq Listing Rule 5635(c)(4).

Positive

• Appointment of Mark Singleton as Senior VP and CFO may enhance financial leadership.
• Equity awards align executive interests with shareholder value, potentially boosting performance.

Negative

• None.

DURHAM, N.C., April 05, 2022 (GLOBE NEWSWIRE) -- Bioventus Inc. (Nasdaq: BVS) (“Bioventus” or the “Company”), a global leader in innovations for active healing, announced today the issuance on April 4, 2022 of previously disclosed inducement equity awards to Mark Singleton in connection with this appointment as Senior Vice President, Chief Financial Officer, and Principle Accounting Officer of the Company.

The awards consist of 74,500 restricted share units and options to purchase 223,200 shares of the Company’s Class A common stock. Both awards will vest in four equal installments on the first four anniversaries of March 21, 2022, subject to Mr. Singleton’s continued employment with the Company through each application vesting date. The exercise price for the options is $13.29.

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 treatment, 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.

Media Contact:
Jamica A. Whitaker
919-666-5770
jamica.whitaker@bioventus.com

Investor Inquiries:
Dave Crawford
919-474-6787
dave.crawford@bioventus.com

FAQ

What equity awards were issued to Mark Singleton by Bioventus?

Bioventus issued Mark Singleton 74,500 restricted share units and options to purchase 223,200 shares of Class A common stock.

What is the exercise price for the options awarded to Mark Singleton?

The exercise price for the options awarded to Mark Singleton is $13.29.

When will the equity awards for Mark Singleton vest?

The equity awards will vest in four equal installments on the first four anniversaries of March 21, 2022.

Why were the equity awards to Mark Singleton approved?

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

How might Mark Singleton's appointment impact Bioventus?

Mark Singleton's appointment as CFO may enhance financial leadership and align executive interests with shareholder value.