Sientra Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
Sientra, Inc. (NASDAQ:SIEN) announced on September 6, 2022, the approval of equity award grants to 49 new employees under its Inducement Plan. These grants consist of 1,182,029 restricted stock units that will vest over time, contingent upon continued employment. The grants serve as a material component of the employees' compensation and were approved by the Compensation Committee in accordance with NASDAQ Rule 5635(c)(4). Sientra focuses on innovative products in medical aesthetics, particularly in plastic surgery, and is committed to enhancing the industry through technology.
- Approval of equity awards enhances employee compensation packages.
- Recruitment of 49 new employees may strengthen operational capabilities.
- None.
SANTA BARBARA, Calif., Sept. 06, 2022 (GLOBE NEWSWIRE) -- Sientra, Inc. (NASDAQ:SIEN) (“Sientra” or the “Company”), a medical aesthetics company uniquely focused on plastic surgeons, today announced that on August 29, 2022, the Company approved equity award grants under the Sientra Inc. Inducement Plan to 49 new employees.
The new employees were granted restricted stock units representing a total of 1,182,029 shares of common stock. The restricted stock units will vest in time-based installments beginning on the grant date. In each case, the vesting of shares is contingent upon the recipient’s continued service with the Company through each vesting date.
The grants were made as an inducement that was a material component of each person’s compensation and subsequent acceptance of employment with the Company and were granted as employment inducement awards pursuant to NASDAQ Listing Rule 5635(c)(4) approved by the Compensation Committee.
About Sientra
Headquartered in Santa Barbara, California, Sientra is a medical aesthetics company exclusively focused on plastic surgery. The Company mission is to offer proprietary innovations and unparalleled partnerships that radically advance how plastic surgeons think, work and care for their patients. Sientra has developed a broad portfolio of products with technologically differentiated characteristics, supported by independent laboratory testing and strong clinical trial outcomes. The Company’s product portfolio includes its Sientra round and shaped breast implants, the first fifth generation breast implants approved by the FDA for sale in the United States, its ground-breaking Allox2® breast tissue expander with patented dual-port and integral drain technology, the AuraGen fat grafting system, and BIOCORNEUM®, the #1 performing, preferred and recommended scar gel of plastic surgeons (*).
Sientra uses its investor relations website to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Sientra is routinely posted and is accessible on the Company’s investor relations website at www.sientra.com.
(*) Data on file
Investor Relations Contact
Aman R. Patel, CFA
aman.patel@westwicke.com
Source: Sientra, Inc.
FAQ
What is the significance of Sientra's equity award grants announced on September 6, 2022?
How many restricted stock units were granted by Sientra on August 29, 2022?
What is the purpose of Sientra's Inducement Plan?
What contingent factor affects the vesting of the restricted stock units granted by Sientra?
Under which NASDAQ rule were Sientra's equity awards approved?
