Sientra Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

Sientra, Inc. (NASDAQ:SIEN) announced on December 27, 2022, the approval of equity award grants for 13 new employees under its Inducement Plan. The grants consist of 902,096 restricted stock units, which will vest in time-based installments, contingent upon the recipients' continued service with the company. This initiative aims to enhance compensation packages and attract talent, aligning with NASDAQ Listing Rule 5635(c)(4) as approved by the Compensation Committee. Sientra focuses on innovative medical aesthetic products for plastic surgeons, including FDA-approved breast implants and other specialized technologies.

Positive

• Approval of equity grants to 13 new employees enhances talent acquisition.
• Total of 902,096 restricted stock units granted, indicating a strong commitment to employee retention.

Negative

• None.

SANTA BARBARA, Calif., Dec. 29, 2022 (GLOBE NEWSWIRE) -- Sientra, Inc. (NASDAQ:SIEN) (“Sientra” or the “Company”), a medical aesthetics company uniquely focused on plastic surgeons, today announced that on December 27, 2022, the Company approved equity award grants under the Sientra Inc. Inducement Plan to 13 new employees.

The new employees were granted restricted stock units representing a total of 902,096 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 was announced by Sientra on December 27, 2022?

Sientra announced the approval of equity award grants under its Inducement Plan for 13 new employees.

How many restricted stock units were granted to new employees of Sientra?

A total of 902,096 restricted stock units were granted to the new employees.

What is the purpose of the restricted stock units granted by Sientra?

The restricted stock units serve as a material component of the new employees' compensation and are contingent upon their continued service.

Under which NASDAQ listing rule were the equity grants for Sientra approved?

The equity grants were approved under NASDAQ Listing Rule 5635(c)(4).