Teladoc Health Announces Employee Inducement Award under NYSE Rule 303A.08

Rhea-AI Summary

Teladoc Health (NYSE:TDOC), a leader in virtual care, has announced an inducement award for a new employee. Terre Layton, joining as Senior Vice President of Product for BetterHelp, received 50,000 restricted stock units of Teladoc Health's common stock on September 1, 2024. The vesting schedule is structured as follows:

• One-third of the shares vest on the first anniversary of the grant date
• The remaining two-thirds vest quarterly over the subsequent two years

This award, approved by the Compensation Committee of Teladoc's Board of Directors, was granted under the company's 2023 Employment Inducement Incentive Award Plan, in compliance with NYSE Rule 303A.08.

Positive

• Attraction of high-level talent with Terre Layton joining as SVP of Product for BetterHelp
• Alignment of employee interests with shareholders through stock-based compensation

Negative

• Potential dilution of existing shareholders due to issuance of new stock units

News Market Reaction – TDOC

-4.26%

-4.26% Session move

In the trading session that priced this news, TDOC declined 4.26%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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PURCHASE, NY, Sept. 06, 2024 (GLOBE NEWSWIRE) -- Teladoc Health, Inc. (NYSE:TDOC), the global leader in whole-person virtual care, today announced that it issued an inducement award to a new employee.

Effective September 1, 2024, in connection with commencing employment as Senior Vice President of Product, BetterHelp, Terre Layton was granted an award of restricted stock units covering 50,000 shares of Teladoc Health’s common stock, par value $0.001 per share. The restricted stock units vest, based on continued service to Teladoc Health, as to one-third of the underlying shares on the first anniversary of the grant date, with the remainder vesting quarterly over two years thereafter. The award was approved by the Compensation Committee of the Board of Directors of Teladoc Health and was granted under the Teladoc Health, Inc. 2023 Employment Inducement Incentive Award Plan as an employment inducement award pursuant to New York Stock Exchange Rule 303A.08.

About Teladoc Health

Teladoc Health empowers all people everywhere to live their healthiest lives by transforming the healthcare experience. As the world leader in whole-person virtual care, Teladoc Health uses proprietary health signals and personalized interactions to drive better health outcomes across the full continuum of care, at every stage in a person’s health journey. Teladoc Health leverages more than two decades of expertise and data-driven insights to meet the growing virtual care needs of consumers and healthcare professionals. For more information, please visit www.teladochealth.com

Media:
Chris Stenrud
617-444-9612
pr@teladochealth.com

FAQ

What inducement award did Teladoc Health (TDOC) announce on September 6, 2024?

Teladoc Health announced an inducement award of 50,000 restricted stock units to Terre Layton, who joined as Senior Vice President of Product for BetterHelp on September 1, 2024.

How do the restricted stock units granted by Teladoc Health (TDOC) vest?

The restricted stock units vest as follows: one-third on the first anniversary of the grant date, and the remaining two-thirds vest quarterly over the next two years, contingent on continued service to Teladoc Health.

Under what plan were the Teladoc Health (TDOC) inducement awards granted?

The inducement awards were granted under Teladoc Health's 2023 Employment Inducement Incentive Award Plan, in compliance with New York Stock Exchange Rule 303A.08.

Who approved the inducement award for Teladoc Health's (TDOC) new employee?

The inducement award was approved by the Compensation Committee of Teladoc Health's Board of Directors.