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

Rhea-AI Summary

Nevro Corp. (NYSE: NVRO), a global medical device company specializing in chronic pain solutions, announced that it has granted inducement restricted stock unit awards to 26 new non-executive employees. These grants, covering a total of 59,460 shares of common stock, were made on May 7, 2024, under the Nevro Corp. 2023 Inducement Award Plan. The awards vest over three years, contingent on the employees' continued service. These inducements were made in compliance with NYSE Rule 303A.08 to attract new talent. Nevro advises investors to check its Investor Relations section for updates.

Positive

• Granted inducement restricted stock unit awards to 26 new non-executive employees.
• The awards cover a total of 59,460 shares of Nevro's common stock.
• The awards vest over a three-year period, promoting employee retention.
• Inducement grants align with NYSE Rule 303A.08, ensuring regulatory compliance.

Negative

• The issuance of new stock can lead to shareholder dilution.
• Restricted stock units vest over three years, which may not have an immediate positive impact.

REDWOOD CITY, Calif., May 24, 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 May 7, 2024, the Compensation Committee of the Company's Board of Directors granted inducement restricted stock unit awards covering 59,460 shares of Nevro's common stock to twenty-six 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 did Nevro announce on May 24, 2024?

Nevro announced inducement grants of restricted stock units to 26 new employees.

How many shares are covered by Nevro's inducement awards?

The inducement awards cover a total of 59,460 shares of Nevro's common stock.

What is the vesting period for Nevro's inducement restricted stock units?

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

What is the purpose of Nevro's inducement stock unit awards under NYSE Rule 303A.08?

The inducement awards are meant to attract new non-executive employees to Nevro.