electroCore Announces Inducement Grant under NASDAQ Listing Rule 5635(c)(4)
electroCore, Inc. (NASDAQ: ECOR), a bioelectronic medicine and wellness company, has announced the appointment of Stephen Smith as VP of Quality, Regulatory, and Compliance. As part of his employment package, the Compensation Committee granted Smith 10,000 restricted stock units (RSUs) on August 1, 2024. This grant was made as an inducement material under NASDAQ Listing Rule 5635(c)(4). The RSUs will vest over a three-year period, with 33% vesting on each anniversary of the grant date, contingent on Smith's continued employment with electroCore.
electroCore, Inc. (NASDAQ: ECOR), un'azienda di medicina bioelettronica e benessere, ha annunciato la nomina di Stephen Smith come VP della Qualità, della Regolamentazione e della Conformità. Come parte del suo pacchetto di assunzione, il Comitato Compensi ha concesso a Smith 10.000 unità di azioni vincolate (RSUs) il 1° agosto 2024. Questa concessione è stata effettuata come incentivo materiale ai sensi della Regola di quotazione NASDAQ 5635(c)(4). Le RSUs maturaanno su un periodo di tre anni, con il 33% che matura ogni anniversario della data di concessione, a condizione che Smith continui a essere impiegato con electroCore.
electroCore, Inc. (NASDAQ: ECOR), una empresa de medicina bioelectrónica y bienestar, ha anunciado el nombramiento de Stephen Smith como VP de Calidad, Regulación y Cumplimiento. Como parte de su paquete de empleo, el Comité de Compensación otorgó a Smith 10,000 unidades de acciones restringidas (RSUs) el 1 de agosto de 2024. Esta concesión se realizó como un incentivo material bajo la Regla de Cotización de NASDAQ 5635(c)(4). Las RSUs se consolidarán durante un período de tres años, con el 33% consolidándose en cada aniversario de la fecha de concesión, condicionado a la continuidad del empleo de Smith en electroCore.
electroCore, Inc. (NASDAQ: ECOR), 생체전자 의학 및 웰빙 회사가 Stephen Smith를 품질, 규제 및 준수 부사장으로 임명했다고 발표했습니다. 그의 고용 패키지의 일환으로 보상위원회는 2024년 8월 1일에 Smith에게 10,000개의 제한 주식 단위(RSUs)를 부여했습니다. 이 부여는 NASDAQ 상장 규칙 5635(c)(4) 아래에서 물질적 유인으로 이루어졌습니다. RSUs는 3년 동안 분할 지급되며, 부여일의 매주년마다 33%가 지급되며, 이는 Smith가 electroCore에 계속 근무하는 것을 조건으로 합니다.
electroCore, Inc. (NASDAQ: ECOR), une entreprise de médecine bioélectronique et de bien-être, a annoncé la nomination de Stephen Smith en tant que VP de la qualité, de la réglementation et de la conformité. Dans le cadre de son package d'emploi, le Comité de rémunération a accordé à Smith 10 000 unités d'actions restreintes (RSUs) le 1er août 2024. Cette attribution a été faite comme une incitation matérielle selon la règle d'inscription 5635(c)(4) du NASDAQ. Les RSUs seront acquises sur une période de trois ans, avec 33 % acquérant chaque anniversaire de la date d'attribution, sous réserve de la poursuite de l'emploi de Smith chez electroCore.
electroCore, Inc. (NASDAQ: ECOR), ein Unternehmen für bioelektronische Medizin und Wellness, hat die Ernennung von Stephen Smith zum VP für Qualität, Regulierung und Compliance bekannt gegeben. Im Rahmen seines Anstellungspakets hat der Vergütungsausschuss Smith am 1. August 2024 10.000 eingeschränkte Aktieneinheiten (RSUs) gewährt. Diese Gewährung wurde als materieller Anreiz gemäß der NASDAQ-Listing-Regel 5635(c)(4) vorgenommen. Die RSUs werden über einen Zeitraum von drei Jahren vollständig, wobei 33% an jedem Jahrestag des Gewährungsdatums fällig wird, abhängig von Smiths fortgesetzter Anstellung bei electroCore.
- Appointment of a new VP for Quality, Regulatory, and Compliance, potentially strengthening the company's leadership team
- Use of RSUs as part of the compensation package, aligning the new executive's interests with those of shareholders
- Potential dilution of existing shareholders due to the issuance of 10,000 RSUs
ROCKAWAY, N.J., Aug. 02, 2024 (GLOBE NEWSWIRE) -- electroCore, Inc. (the “Company”), (NASDAQ: ECOR), a commercial-stage bioelectronic medicine and wellness company, today announced that on August 1, 2024, Stephen Smith joined electroCore as the Company’s VP, Quality, Regulatory, and Compliance, and the Compensation Committee of electroCore’s Board of Directors granted 10,000 restricted stock units (“RSUs”) to Mr. Smith in connection with the commencement of his employment. The RSUs were granted as an inducement material to Mr. Smith’s commencement of employment pursuant to NASDAQ Listing Rule 5635(c)(4).
About electroCore, Inc.
electroCore, Inc. is a commercial stage bioelectronic medicine and wellness company dedicated to improving health and promoting general wellness through its non-invasive vagus nerve stimulation (“nVNS”) technology platform. The company’s is focused on the commercialization of medical devices for the management and treatment of certain medical conditions and consumer product offerings utilizing nVNS to promote general wellbeing and human performance in the United States and select overseas markets.
For more information, visit www.electrocore.com.
Contact:
ECOR Investor Relations
(973) 302-9253
investors@electrocore.com
FAQ
What position did Stephen Smith take at electroCore (ECOR)?
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Under which NASDAQ rule did electroCore (ECOR) grant the RSUs to Stephen Smith?
