TransMedics Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

TransMedics Group, Inc. (TMDX) announced the grant of non-qualified stock options for 240,500 shares of its common stock to eleven employees on November 5, 2021. The options, aimed at incentivizing new hires, were approved by the Compensation Committee and adhere to Nasdaq Listing Rule 5635(c)(4). Each option has a ten-year term with an exercise price of $31.49, the stock's closing price on the grant date. Vesting occurs at 25% after one year and monthly thereafter over three years, contingent on continued employment.

Positive

• Grant of 240,500 stock options to new employees aimed at attracting talent.
• Stock options have a long 10-year term, providing potential for future growth.

Negative

• None.

ANDOVER, Mass., Nov. 11, 2021 /PRNewswire/ -- TransMedics Group, Inc. ("TransMedics") (Nasdaq: TMDX), a medical technology company that is transforming organ transplant therapy for patients with end-stage lung, heart, and liver failure, today announced that on November 5, 2021, TransMedics granted non-qualified stock options to purchase an aggregate of 240,500 shares of its common stock to eleven employees as a material inducement for each employee's entry into employment with TransMedics. The options were approved by the Compensation Committee of the TransMedics Board of Directors and were granted in accordance with Nasdaq Listing Rule 5635(c)(4) and pursuant to the TransMedics Group, Inc. Inducement Plan.

TransMedics granted non-qualified stock options to eleven new employees to purchase 240,500 shares of TransMedics' common stock in the aggregate. The stock options were granted with a per share exercise price of $31.49, the closing price of the common stock on the Nasdaq Global Market on the date of grant. Twenty-five percent of the shares subject to each option will vest on the first yearly anniversary of the date of the employee's start of employment, with the remainder vesting in equal monthly installments over the subsequent three year period, subject to the employee's continued service with the Company through the applicable vesting date. The options have a 10-year term and are subject to the terms of the TransMedics Group, Inc. Inducement Plan.

About TransMedics Group, Inc.
TransMedics is the world's leader in portable extracorporeal warm perfusion and assessment of donor organs for transplantation. Headquartered in Andover, Massachusetts, the company was founded to address the unmet need for more and better organs for transplantation and has developed technologies to preserve organ quality, assess organ viability prior to transplant, and potentially increase the utilization of donor organs for the treatment of end-stage heart, lung, and liver failure.

Investor Contact:
Brian Johnston
631-807-1986
Investors@transmedics.com

 

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SOURCE TransMedics Group, Inc.

FAQ

What is the significance of TransMedics' stock options grant on November 5, 2021?

The grant of stock options aims to incentivize and retain eleven new employees, enhancing the company's talent pool.

What are the details of the stock options granted by TransMedics?

TransMedics granted 240,500 stock options with an exercise price of $31.49, vesting over four years.

How will the stock options granted by TransMedics vest?

The options vest 25% after one year and then monthly over three years, contingent on continued employment.

What is Nasdaq Listing Rule 5635(c)(4) in relation to TransMedics?

This rule allows for the issuance of stock options as an inducement for new employees, which TransMedics followed.