Neuronetics Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
Neuronetics (NASDAQ: STIM) has announced the granting of inducement awards to new employees, approved by the Company's Board Compensation Committee under NASDAQ Listing Rule 5635(c)(4). The awards include Performance Restricted Stock Units (PRSUs) and Restricted Stock Units (RSUs) subject to the 2020 Inducement Incentive Plan.
The PRSUs will vest based on achieving cash flow breakeven targets: 25% for Q2 2025, 50% for Q3 2025, and 25% for Q4 2025. Key recipients include Bill Leonard (100,000 PRSUs), Andy Crish, Geoff Grammer, and Peter Willett (60,000 PRSUs each). RSUs were granted to multiple employees with various vesting schedules over 3-4 years.
Neuronetics (NASDAQ: STIM) ha annunciato l'assegnazione di premi di indennità a nuovi dipendenti, approvati dal Comitato di Compensazione del Consiglio della Società secondo la Regola di Quotazione NASDAQ 5635(c)(4). I premi includono Unità Azionarie Riservate Legate alla Performance (PRSUs) e Unità Azionarie Riservate (RSUs) soggette al Piano di Incentivo per l'Indennità 2020.
Le PRSUs si stabiliranno in base al raggiungimento degli obiettivi di pareggio di flusso di cassa: 25% per il secondo trimestre del 2025, 50% per il terzo trimestre del 2025 e 25% per il quarto trimestre del 2025. I principali destinatari includono Bill Leonard (100.000 PRSUs), Andy Crish, Geoff Grammer e Peter Willett (60.000 PRSUs ciascuno). Le RSUs sono state concesse a più dipendenti con vari programmi di maturazione su un periodo di 3-4 anni.
Neuronetics (NASDAQ: STIM) ha anunciado la concesión de premios de inducción a nuevos empleados, aprobados por el Comité de Compensación del Consejo de la Compañía según la Regla de Cotización 5635(c)(4) de NASDAQ. Los premios incluyen Unidades de Acciones Restringidas por Rendimiento (PRSUs) y Unidades de Acciones Restringidas (RSUs) sujetas al Plan de Incentivo por Inducción 2020.
Las PRSUs se consolidarán en función del logro de los objetivos de equilibrio de flujo de efectivo: 25% para el segundo trimestre de 2025, 50% para el tercer trimestre de 2025 y 25% para el cuarto trimestre de 2025. Los principales beneficiarios incluyen a Bill Leonard (100,000 PRSUs), Andy Crish, Geoff Grammer y Peter Willett (60,000 PRSUs cada uno). Se concedieron RSUs a varios empleados con diferentes cronogramas de consolidación que van de 3 a 4 años.
Neuronetics (NASDAQ: STIM)는 NASDAQ 상장 규정 5635(c)(4)에 따라 회사 이사회 보상위원회에서 승인된 새로운 직원에 대한 유도 보상을 발표했습니다. 보상에는 성과 제한 주식 단위(PRSUs)와 제한 주식 단위(RSUs)가 포함되며, 이는 2020 유도 인센티브 계획에 따라 규제됩니다.
PRSUs는 현금 흐름 균형 목표를 달성하는 데 기반하여 권리가 부여됩니다: 2025년 2분기 25%, 2025년 3분기 50%, 2025년 4분기 25%. 주요 수혜자는 Bill Leonard(100,000 PRSUs), Andy Crish, Geoff Grammer 및 Peter Willett(각 60,000 PRSUs)입니다. RSUs는 3-4년에 걸친 다양한 권리 부여 일정으로 여러 직원에게 제공되었습니다.
Neuronetics (NASDAQ: STIM) a annoncé l'octroi de récompenses d'incitation à de nouveaux employés, approuvées par le Comité de Rémunération du Conseil de la Société conformément à la Règle de Cotation NASDAQ 5635(c)(4). Les récompenses comprennent des Unités d'Actions Restreintes Liées aux Performances (PRSUs) et des Unités d'Actions Restreintes (RSUs) soumises au Plan d'Incentive d'Induction 2020.
Les PRSUs seront acquises en fonction de l'atteinte des objectifs de flux de trésorerie à l'équilibre : 25 % pour le 2ème trimestre 2025, 50 % pour le 3ème trimestre 2025 et 25 % pour le 4ème trimestre 2025. Les principaux bénéficiaires incluent Bill Leonard (100 000 PRSUs), Andy Crish, Geoff Grammer et Peter Willett (60 000 PRSUs chacun). Des RSUs ont été accordées à plusieurs employés avec divers calendriers d'acquisition s'étalant sur 3 à 4 ans.
Neuronetics (NASDAQ: STIM) hat die Gewährung von Anreiz-Zuwendungen an neue Mitarbeiter bekannt gegeben, die vom Entschädigungsausschuss des Unternehmens gemäß NASDAQ-Listingregel 5635(c)(4) genehmigt wurden. Die Auszeichnungen umfassen Leistungsgebundene Aktieneinheiten (PRSUs) und Eingeschränkte Aktieneinheiten (RSUs), die dem Anreizplan 2020 unterliegen.
Die PRSUs verfallen basierend auf dem Erreichen von Cash-Flow-Breakeven-Zielen: 25% für das 2. Quartal 2025, 50% für das 3. Quartal 2025 und 25% für das 4. Quartal 2025. Zu den wichtigsten Empfängern gehören Bill Leonard (100.000 PRSUs), Andy Crish, Geoff Grammer und Peter Willett (jeweils 60.000 PRSUs). RSUs wurden mehreren Mitarbeitern mit verschiedenen Zeitplänen zur Vesting über einen Zeitraum von 3-4 Jahren gewährt.
- Company links executive compensation to cash flow breakeven targets, aligning management interests with financial performance
- Structured vesting schedule over multiple years encourages long-term employee retention
- Significant equity grants may lead to future shareholder dilution
- Cash flow breakeven not expected until at least Q2 2025, indicating current negative cash flow
MALVERN, Pa., Dec. 16, 2024 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ: STIM) (the “Company”) today announced the granting of inducement awards to new employees as described below. In accordance with NASDAQ Listing Rule 5635(c)(4), these awards were approved by the Compensation Committee of the Company’s Board of Directors and were made as material inducements to the recipients’ employment with the Company. In all cases, vesting is subject to the recipient’s continued service with the Company through the applicable vesting date, and the awards are subject to the terms of the Company’s 2020 Inducement Incentive Plan.
Performance restricted stock units (“PRSUs”)
| Name | Number of PRSUs | Vesting Date |
| Bill Leonard | 100,000 | December 31, 2025 |
| Andy Crish | 60,000 | December 31, 2025 |
| Geoff Grammer | 60,000 | December 31, 2025 |
| Peter Willett | 60,000 | December 31, 2025 |
Restricted stock units (“RSUs”)
| Name | Number of Inducement Plan RSUs | Vesting Schedule |
| Bill Leonard | 100,000 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date |
| Bill Leonard | 100,000 | 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date; 1/3 on fourth anniversary of grant date |
| Andy Crish | 33,750 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date |
| Andy Crish | 33,750 | 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date; 1/3 on fourth anniversary of grant date |
| Geoff Grammer | 33,750 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date |
| Geoff Grammer | 33,750 | 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date; 1/3 on fourth anniversary of grant date |
| Peter Willett | 33,750 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date |
| Peter Willett | 33,750 | 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date; 1/3 on fourth anniversary of grant date |
| Latoya Blaylock | 24,000 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date |
| Latoya Blaylock | 16,000 | 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date; 1/3 on fourth anniversary of grant date |
| Annie Farley | 24,000 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date |
| Annie Farley | 16,000 | 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date; 1/3 on fourth anniversary of grant date |
| Thomas Harris | 24,000 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date |
| Thomas Harris | 16,000 | 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date; 1/3 on fourth anniversary of grant date |
| Nicole Lowry | 24,000 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date |
| Nicole Lowry | 16,000 | 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date; 1/3 on fourth anniversary of grant date |
| Bryce Newmann | 24,000 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date |
| Bryce Newmann | 16,000 | 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date; 1/3 on fourth anniversary of grant date |
| Egan Pratt | 24,000 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date |
| Egan Pratt | 16,000 | 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date; 1/3 on fourth anniversary of grant date |
About Neuronetics and Greenbrook
Neuronetics, Inc. (“Neuronetics”) believes that mental health is as important as physical health. As a global leader in neuroscience, Neuronetics is redefining patient and physician expectations by offering exceptional treatments that produce extraordinary results. Neuronetics’ NeuroStar Advanced Therapy for Mental Health is a non-drug, noninvasive treatment that can improve the quality of life for people suffering from neurohealth conditions when traditional medication has not helped. In addition to selling the NeuroStar system and associated treatment sessions to customers, Greenbrook TMS Inc. (“Greenbrook”) operates treatment centers across the United States, offering both NeuroStar Advanced Therapy (transcranial magnetic stimulation or “TMS”) and Spravato® (esketamine nasal spray) for the treatment of major depressive disorder (“MDD”) and other mental health disorders. NeuroStar Advanced Therapy is the leading TMS treatment for MDD in adults with more than 6.9 million treatments delivered and is backed by the largest clinical data set of any TMS treatment system for depression, including the world’s largest depression outcomes registry. Spravato® is offered to treat adults with treatment-resistant depression and depressive symptoms in adults with MDD with suicidal thoughts or actions. Greenbrook has provided more than 1.68 million treatments to over 51,000 patients struggling with depression.
Investor Contact:
Mike Vallie or Mark Klausner
ICR Healthcare
443-213-0499
ir@neuronetics.com
Media Contact:
EvolveMKD
646-517-4220
NeuroStar@evolvemkd.com
FAQ
What are the cash flow breakeven targets for STIM's PRSU vesting in 2025?
How many PRSUs did Neuronetics (STIM) grant to Bill Leonard?
What is the vesting schedule for STIM's new RSU grants?
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