TELA Bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
TELA Bio, Inc. announced the approval of inducement grants for 54,600 stock options and 7,500 restricted stock units to 11 new employees. The grants were made under Nasdaq Rule 5635(c)(4) and are part of the new hires' compensation packages as an inducement for their employment. The stock options have an exercise price of $9.00 per share and will vest over four years. The restricted stock units will also vest in equal annual installments over the same period. These equity awards are contingent on continued service with TELA Bio.
- Inducement grants approved for 54,600 stock options and 7,500 restricted stock units.
- Stock options have an attractive exercise price of $9.00.
- None.
MALVERN, Pa., Oct. 28, 2022 (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 54,600 shares of its common stock and restricted stock units covering 7,500 shares of its common stock to 11 newly-hired employees, with a grant date of October 26, 2022 (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
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
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