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

Rhea-AI Summary

Evolus, Inc. reported granting stock options and restricted stock units to 14 new non-executive employees under the 2023 Inducement Incentive Plan. The awards have a vesting commencement date of May 7, 2024, with stock options priced at $13.42 per share and a 10-year term. RSUs vest annually over 4 years. The grants are compliant with Nasdaq Listing Rule 5635(c)(4).

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 10,990 shares of Evolus and an aggregate of 42,759 restricted stock units (RSUs) of the company’s common stock to 14 newly hired non-executive employees of the company. The awards were approved by the compensation committee of the company’s board of directors under the Evolus’ 2023 Inducement Incentive Plan, with a grant and vesting commencement date of May 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 $13.42 per share, the closing price of Evolus’ common stock on the trading day preceding 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/20240510826268/en/

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

How many non-executive employees received stock options and RSUs from Evolus?

14 newly hired non-executive employees received stock options and RSUs.

What is the exercise price of the stock options granted by Evolus?

The stock options have an exercise price of $13.42 per share.

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

The stock options vest over 4 years, with 25% of the shares vesting annually. The RSUs also vest 25% annually.

When do the stock options and RSUs granted by Evolus begin to vest?

The grants have a vesting commencement date of May 7, 2024.

Under which plan were the stock options and RSUs granted by Evolus?

The awards were approved under Evolus' 2023 Inducement Incentive Plan.