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

Rhea-AI Summary

Teladoc Health (NYSE:TDOC) announced the issuance of inducement awards to two new non-executive employees, effective July 1, 2024. These awards, comprising restricted stock units covering 45,693 shares of common stock, were granted under the 2023 Employment Inducement Incentive Award Plan and approved by the Compensation Committee of the Board of Directors. The restricted stock units vest as one-third on July 1, 2025, with the remainder vesting quarterly over the following two years.

Positive

• The issuance of inducement awards may attract and retain top talent.
• Clear vesting schedule promotes long-term commitment from new employees.

Negative

• Shareholder dilution due to issuance of 45,693 additional shares.

PURCHASE, NY, July 08, 2024 (GLOBE NEWSWIRE) -- Teladoc Health, Inc. (NYSE:TDOC), the global leader in whole-person virtual care, today announced that it issued inducement awards to two new employees.

Effective July 1, 2024, in connection with commencing employment, two new non-executive employees of Teladoc Health were granted awards of restricted stock units covering an aggregate of 45,693 shares of Teladoc Health’s common stock, par value $0.001 per share (the “Common Stock”). The restricted stock units vest, based on continued service to Teladoc Health, as to one-third of the underlying shares on July 1, 2025, with the remainder vesting quarterly over two years thereafter. The awards were approved by the Compensation Committee of the Board of Directors of Teladoc Health and were granted under the Teladoc Health, Inc. 2023 Employment Inducement Incentive Award Plan as employment inducement awards 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:
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FAQ

What are the details of the inducement awards issued by Teladoc Health on July 1, 2024?

Teladoc Health issued restricted stock units covering 45,693 shares to two new non-executive employees, with a vesting schedule extending over three years.

How many shares are involved in Teladoc Health's inducement awards?

The inducement awards cover an aggregate of 45,693 shares of Teladoc Health's common stock.

What is the vesting schedule for the restricted stock units granted by Teladoc Health?

The restricted stock units vest as one-third on July 1, 2025, with the remainder vesting quarterly over the next two years.

Under which plan were Teladoc Health's inducement awards granted?

The awards were granted under the Teladoc Health 2023 Employment Inducement Incentive Award Plan.

What is the significance of NYSE Rule 303A.08 in relation to Teladoc Health's inducement awards?

NYSE Rule 303A.08 allows listed companies to issue inducement awards to new employees without shareholder approval as a means to attract top talent.