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

Rhea-AI Summary

Nevro Corp. (NYSE: NVRO) announced on July 11, 2024, that its Compensation Committee granted inducement restricted stock unit awards on July 7, 2024. These awards cover 69,201 shares of common stock and were given to 17 new non-executive employees as part of the 2023 Inducement Award Plan. The stock units will vest over three years, contingent upon continuous employment. These awards were made under NYSE Rule 303A.08, aiming to attract new talent to the company. Nevro regularly updates its investor relations information on its website.

Positive

• Granted inducement restricted stock units to 17 new non-executive employees.
• Awards cover 69,201 shares of Nevro common stock.
• Stock units vest over three years, promoting employee retention.

Negative

• Potential shareholder dilution from new stock awards.

REDWOOD CITY, Calif., July 11, 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 July 7, 2024, the Compensation Committee of the Company's Board of Directors granted inducement restricted stock unit awards covering 69,201 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 is the significance of Nevro's inducement grants announced on July 11, 2024?

Nevro announced inducement restricted stock unit awards to 17 new non-executive employees on July 11, 2024, to attract new talent.

How many shares do Nevro's new inducement grants cover?

The inducement grants cover 69,201 shares of Nevro's common stock.

What is the vesting period for Nevro’s inducement restricted stock unit awards?

The restricted stock units will vest over a three-year period.

Under which rule were Nevro's inducement grants made?

The grants were made under NYSE Listed Company Manual Rule 303A.08.

What is the purpose of Nevro’s inducement restricted stock unit awards?

The purpose is to attract 17 new non-executive employees to join Nevro.

Where can investors find more information about Nevro’s announcements?

Investors can find more information in the 'Investor Relations' section on Nevro's website.