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

Rhea-AI Summary

TELA Bio (NASDAQ: TELA), a commercial-stage medical technology company, announced the approval of restricted stock units covering 2,600 shares for three newly-hired employees, effective February 21, 2023. This grant was made under the Nasdaq Rule 5635(c)(4) inducement grant exception, as part of the employees' compensation and to encourage their acceptance of employment with TELA Bio. The restricted stock units will vest annually over four years, contingent on the employees' continued service. TELA Bio aims to enhance clinical outcomes through innovative soft-tissue reconstruction solutions, prioritizing the use of the patient's own anatomy.

Positive

• Approval of 2,600 shares as inducement grants may attract talent and enhance workforce stability.
• The company is focused on innovative solutions that optimize clinical outcomes, potentially increasing market demand.

Negative

• None.

MALVERN, Pa., Feb. 24, 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 restricted stock units covering 2,600 shares of its common stock to three newly-hired employees, with a grant date of February 21, 2023 (the "Grant Date"). The restricted stock units 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 restricted stock units will vest in equal annual installments over four years, 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 the recent stock grant by TELA Bio?

TELA Bio approved inducement grants of restricted stock units covering 2,600 shares for three new employees as of February 21, 2023.

What is the significance of the restricted stock units granted by TELA Bio?

The restricted stock units serve as part of the employees' compensation and are intended to encourage their acceptance of employment.

How will the restricted stock units vest for TELA Bio employees?

The restricted stock units will vest in equal annual installments over four years, contingent on the employees' continued service.