TELA Bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

TELA Bio has announced the approval of stock options and restricted stock units for 10 new employees, totaling 4,200 stock options and 7,250 restricted stock units. The options have an exercise price of $11.80 per share, based on the stock’s closing price on the grant date of January 18, 2023. The options are set to vest over four years, while the restricted units will vest annually over the same period. These grants are part of the employment compensation package and aim to attract talent as TELA Bio continues its focus on innovative medical technologies for soft-tissue reconstruction.

Positive

• Inducement grants of stock options and restricted stock units to 10 employees may strengthen the talent pool.
• Stock options priced at $11.80 align with recent market performance, potentially driving future interest.

Negative

• None.

MALVERN, Pa., Jan. 20, 2023 (GLOBE NEWSWIRE) -- TELA Bio, Inc. ("TELA Bio") (NASDAQ: TELA), a commercial-stage medical technology company focused on providing innovative soft-tissue reconstruction solutions that optimize clinical outcomes by prioritizing the preservation and restoration of the patient's own anatomy, today announced that the Compensation Committee of the Board of Directors of TELA Bio approved inducement grants of stock options to purchase an aggregate of 4,200 shares of its common stock and restricted stock units covering 7,250 shares of its common stock to 10 newly-hired employees, with a grant date of January 18, 2023 (the "Grant Date"). The equity awards were granted pursuant to the Nasdaq Rule 5635(c)(4) inducement grant exception as a component of each individual's employment compensation and were granted as an inducement material to his or her acceptance of employment with TELA Bio.

The stock options have an exercise price equal to $11.80 per share, the closing price of TELA Bio's common stock as reported on the Nasdaq Global Market on the Grant Date. The stock options have a ten-year term and vest over four years, with 25% of the shares underlying the stock option vesting on the first anniversary of the Grant Date and the remaining 75% of the shares vesting in equal monthly installments over 36 months thereafter. The restricted stock units will vest in equal annual installments over four years. The equity awards are subject to each individual's continued service with TELA Bio through the applicable vesting dates.

About TELA Bio, Inc.

TELA Bio, Inc. (NASDAQ: TELA) is a commercial-stage medical technology company focused on providing innovative technologies that optimize clinical outcomes by prioritizing the preservation and restoration of the patient's own anatomy. The Company is committed to providing surgeons with advanced, economically effective soft-tissue reconstruction solutions that leverage the patient's natural healing response while minimizing long-term exposure to permanent synthetic materials. For more information, visit www.telabio.com.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations are forward-looking statements and reflect the current beliefs of TELA Bio's management. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors that could cause actual results and events to differ materially and adversely from those indicated by such forward-looking statements. These risks and uncertainties are described more fully in the "Risk Factors" section and elsewhere in our filings with the Securities and Exchange Commission and available at www.sec.gov, including in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Any forward-looking statements that we make in this announcement speak only as of the date of this press release, and TELA Bio assumes no obligation to update forward-looking statements whether as a result of new information, future events or otherwise after the date of this press release, except as required under applicable law.

Investor Contact Greg Chodaczek 332-895-3230
ir@telabio.com

FAQ

What is TELA Bio's recent stock options grant announcement?

TELA Bio announced inducement grants of stock options totaling 4,200 shares and restricted stock units for 7,250 shares to 10 new employees.

What is the exercise price of the stock options granted by TELA Bio?

The exercise price of the stock options granted by TELA Bio is $11.80 per share.

When was the stock options grant date for TELA Bio?

The stock options grant date for TELA Bio was January 18, 2023.

How long do the stock options awarded by TELA Bio vest?

The stock options awarded by TELA Bio vest over four years, with 25% vesting on the first anniversary.

What is the purpose of TELA Bio's stock options grants?

The purpose of the stock options grants is to incentivize new employees as part of their employment compensation.