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

Rhea-AI Summary

TransMedics Group, Inc. granted non-qualified stock options and restricted stock units to 9 employees as inducement for their employment. The options have a 10-year term, with vesting periods and exercise prices based on the company's stock performance.

ANDOVER, Mass., Feb. 16, 2024 /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 February 14, 2024, TransMedics granted non-qualified stock options to purchase an aggregate of 4,041 shares of its common stock and an aggregate of 2,627 restricted stock units to 9 employees, each as a material inducement for each employee's entry into employment with TransMedics. The grants 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 purchase 4,041 shares of TransMedics' common stock and 2,627 restricted stock units in the aggregate. The stock options were granted with a per share exercise price of $89.43, the closing price of the common stock on the Nasdaq Global Market on February 14, 2024. 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. Twenty-five percent of each restricted stock unit award will vest on the first four anniversaries of the date of the employee's start of employment, subject to the employee's continued service with the Company through the applicable vesting date. The restricted stock units 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
332-895-3222
Investors@transmedics.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/transmedics-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-302064326.html

SOURCE TransMedics Group, Inc.

FAQ

How many shares of common stock were granted as non-qualified stock options by TransMedics Group, Inc.?

TransMedics granted 4,041 shares of its common stock as non-qualified stock options.

What is the exercise price of the stock options granted by TransMedics Group, Inc.?

The stock options were granted with a per share exercise price of $89.43.

What is the vesting schedule for the stock options and restricted stock units granted by TransMedics Group, Inc.?

Twenty-five percent of the shares subject to each option will vest on the first yearly anniversary of the employee's start of employment, with the remainder vesting in equal monthly installments over the subsequent three year period.

What is the term of the stock options granted by TransMedics Group, Inc.?

The stock options have a 10-year term.

Under what plan were the stock options and restricted stock units granted by TransMedics Group, Inc.?

The grants were made in accordance with the TransMedics Group, Inc. Inducement Plan.