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

Rhea-AI Summary

Tela Bio, Inc. (NASDAQ: TELA) announced the approval of stock options for 25 new employees, totaling 58,075 shares. The options, exercisable at $8.00 per share, are part of their employment compensation and were issued on July 26, 2022. With a vesting period of four years, 25% will vest after the first year, while the remaining shares will vest monthly over the next three years. This move aims to attract talent within the company's focus on innovative soft-tissue reconstruction solutions that optimize patient outcomes.

Positive

• Inducement grants of stock options to 25 new employees enhance talent acquisition.
• Stock options priced at $8.00, aligning with market performance at grant date.
• Four-year vesting schedule encourages employee retention.

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• None.

MALVERN, Pa., July 29, 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 58,075 shares of its common stock to 25 newly-hired employees, with a grant date of July 26, 2022 (the "Grant Date"). The stock options 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 $8.00 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, 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 stock options were granted by TELA Bio?

TELA Bio approved inducement grants of stock options totaling 58,075 shares for 25 new employees.

What is the exercise price for TELA Bio's stock options?

The exercise price for the stock options granted is $8.00 per share.

When were the stock options granted by TELA Bio?

The stock options were granted on July 26, 2022.

What is the vesting period for the stock options at TELA Bio?

The stock options have a four-year vesting period, with 25% vesting after one year and the rest monthly over 36 months.