Evolus Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Evolus, Inc. (NASDAQ: EOLS), a performance beauty company, has reported the grant of stock options and restricted stock units (RSUs) to newly hired employees. The company granted:

- Non-qualified stock options to purchase 10,251 shares and 31,049 RSUs to 16 new non-executive employees

- Individually negotiated awards to Umberto La Magna, Senior VP, International, including options to purchase 40,286 shares and 28,213 RSUs

These awards, approved by the compensation committee under Evolus' 2023 Inducement Incentive Plan, have a grant and vesting commencement date of October 7, 2024. The stock options have an exercise price of $16.49 per share, a 10-year term, and vest over 4 years with 25% vesting annually. RSUs also vest 25% annually over 4 years.

Positive

• Granting of stock options and RSUs to attract and retain talent
• Individually negotiated awards for a senior executive position
• Four-year vesting schedule to encourage long-term employee retention

Negative

• None.

NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- Evolus, Inc. (NASDAQ: EOLS), a performance beauty company with a focus on building an aesthetic portfolio of consumer brands, today reported the grant of non-qualified stock options to purchase an aggregate of 10,251 shares of Evolus and an aggregate of 31,049 restricted stock units (RSUs) of the company’s common stock to 16 newly hired non-executive employees of the company.

Additionally, the compensation committee approved the grant of individually negotiated awards to Umberto La Magna, Senior Vice President, International. Mr. La Magna’s awards include the grant of non-qualified stock options to purchase 40,286 shares of Evolus and 28,213 restricted stock units (RSUs) of the company’s common stock.

All these awards were approved by the compensation committee of the company’s board of directors under Evolus’ 2023 Inducement Incentive Plan, with a grant and vesting commencement date of October 7, 2024, as an inducement material to the new employees entering into employment with Evolus in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock options have an exercise price of $16.49 per share, the closing price of Evolus’ common stock on the date of grant. The stock options have a 10-year term and vest over 4 years, with 25% of the number of shares subject to the option vesting on each annual anniversary of the vesting commencement date. The RSUs vest 25% on each annual anniversary of the vesting commencement date. The awards are subject to the terms and conditions of the 2023 Inducement Incentive Plan and the terms and conditions of the stock option agreement or RSU agreement, as applicable, covering the grant, including requirements to remain continuously employed on each vesting date.

About Evolus, Inc.

Evolus (NASDAQ: EOLS) is a global performance beauty company evolving the aesthetic neurotoxin market for the next generation of beauty consumers through its unique, customer-centric business model and innovative digital platform. Our mission is to become a global, multi-product aesthetics company based on our flagship product, Jeuveau^® (prabotulinumtoxinA-xvfs), the first and only neurotoxin dedicated exclusively to aesthetics and manufactured in a state-of-the-art facility using Hi-Pure™ technology. Evolus is expanding its product portfolio having entered into a definitive agreement to be the exclusive U.S. distributor of Evolysse™, and the exclusive distributor in Europe of Estyme^®, a line of unique dermal fillers currently in late-stage development.

Visit us at www.evolus.com, and follow us on LinkedIn, X, Instagram or Facebook.

Jeuveau^® and Nuceiva^®, are registered trademarks and Evolysse^™ is a trademark of Evolus, Inc.
Hi-Pure^™ is a trademark of Daewoong Pharmaceutical Co, Ltd.
Estyme^® is a trademark of Symatese Aesthetics S.A.S.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241011519557/en/

Evolus Contacts:

Investors:

Nareg Sagherian

Vice President, Head of Global Investor Relations and Corporate Communications

Tel: 248-202-9267

Email: ir@evolus.com

Media:

Email: media@evolus.com

Source: Evolus

FAQ

What stock options and RSUs did Evolus (EOLS) grant to new employees?

Evolus granted non-qualified stock options to purchase 10,251 shares and 31,049 RSUs to 16 new non-executive employees. Additionally, Umberto La Magna, Senior VP, International, received options to purchase 40,286 shares and 28,213 RSUs.

What is the vesting schedule for the stock options and RSUs granted by Evolus (EOLS)?

Both the stock options and RSUs vest over 4 years, with 25% of the shares vesting on each annual anniversary of the October 7, 2024 vesting commencement date.

What is the exercise price of the stock options granted by Evolus (EOLS) on October 7, 2024?

The stock options have an exercise price of $16.49 per share, which was the closing price of Evolus' common stock on the date of grant.

Under which plan were these inducement grants made by Evolus (EOLS)?

These inducement grants were made under Evolus' 2023 Inducement Incentive Plan, in accordance with Nasdaq Listing Rule 5635(c)(4).