Nevro Announces New Employee Inducement Grants Under NYSE Rule 303A.08

Rhea-AI Summary

Nevro Corp. announced new employee inducement grants under NYSE Rule 303A.08. On June 7, 2024, the company's Compensation Committee allocated restricted stock units (RSUs) covering 56,692 shares to 17 new non-executive employees. These awards, under Nevro's 2023 Inducement Award Plan, vest over three years contingent on continued employment. This move aims to attract and retain talent by providing a material inducement to join Nevro. For more information, Nevro advises checking their 'Investor Relations' section on their website.

Positive

• The issuance of RSUs to new employees demonstrates a commitment to attracting and retaining talent, which could positively impact company performance.
• The three-year vesting period aligns employee incentives with long-term company goals, potentially driving sustained performance.

Negative

• Granting 56,692 shares as inducement awards may lead to shareholder dilution over time.

REDWOOD CITY, Calif., June 28, 2024 /PRNewswire/ -- Nevro Corp. (NYSE: NVRO), a global medical device company that is delivering comprehensive, life-changing solutions for the treatment of chronic pain, announced that on June 7, 2024, the Compensation Committee of the Company's Board of Directors granted inducement restricted stock unit awards covering 56,692 shares of Nevro's common stock to 17 new non-executive employees to induce them to accept employment with Nevro. Each award was granted under the Nevro Corp. 2023 Inducement Award Plan and vests over a three-year period, subject to continued employment with Nevro through each vesting date.

Each award was granted as a material inducement to employment in accordance with the NYSE Listed Company Manual Rule 303A.08.

Internet Posting of Information
Nevro routinely posts information that may be important to investors in the "Investor Relations" section of its website at www.nevro.com. The company encourages investors and potential investors to consult the Nevro website regularly for important information about Nevro.

About Nevro
Headquartered in Redwood City, California, Nevro is a global medical device company focused on delivering comprehensive, life-changing solutions that continue to set the standard for enduring patient outcomes in chronic pain treatment. The company started with a simple mission to help more patients suffering from debilitating pain and developed its proprietary 10 kHz Therapy™, an evidence-based, non-pharmacologic innovation that has impacted the lives of more than 115,000 patients globally. Nevro's comprehensive HFX™ spinal cord stimulation (SCS) platform includes the Senza® SCS system and support services for the treatment of chronic pain of the trunk and limb and painful diabetic neuropathy.

Nevro recently added a minimally invasive treatment option for patients suffering from chronic sacroiliac joint ("SI joint") pain and now provides the most comprehensive portfolio of products in the SI joint fusion space, designed to meet the preferences of physicians and varying patient needs in order to improve outcomes and quality of life for patients.

Senza^®, Senza II^®, Senza Omnia^®, and HFX iQ™ are the only SCS systems that deliver Nevro's proprietary 10 kHz Therapy™. Nevro's unique support services provide every patient with HFX Coach™ support throughout their pain relief journey and every physician with HFX Cloud™ insights for enhanced patient and practice management.

SENZA, SENZA II, SENZA OMNIA, OMNIA, HF10, the HF10 logo, 10 kHz Therapy, HFX, the HFX logo, HFX iQ, the HFX iQ logo, HFX Algorithm, HFX CONNECT, the HFX Connect logo, HFX ACCESS, the HFX Access logo, HFX COACH, the HFX Coach logo, HFX CLOUD, the HFX Cloud logo, RELIEF MULTIPLIED, the X logo, NEVRO, and the NEVRO logo are trademarks or registered trademarks of Nevro Corp. Patents covering Senza HFX iQ and other Nevro products are listed at Nevro.com/patents.

To learn more about Nevro, connect with us on LinkedIn, X, Facebook, and Instagram.

Investor and Media Contact:
Angie McCabe
Vice President, Investor Relations & Corporate Communications
angeline.mccabe@nevro.com

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SOURCE Nevro Corp.

FAQ

What are Nevro's recent employee inducement grants?

Nevro granted restricted stock units covering 56,692 shares to 17 new non-executive employees on June 7, 2024, as an inducement to join the company.

What is the vesting period for Nevro's inducement awards?

The inducement awards granted by Nevro vest over a three-year period, subject to continued employment with the company.

How does Nevro's inducement award plan affect NVRO stock?

Inducement awards can lead to potential shareholder dilution but are intended to attract and retain top talent which could positively impact company performance.

When were the inducement grants awarded by Nevro?

The inducement grants were awarded on June 7, 2024.

What is the purpose of Nevro's inducement stock awards?

The inducement stock awards are intended to attract and retain new non-executive employees by providing a material inducement for them to join Nevro.