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

Rhea-AI Summary

TransMedics Group, Inc. (TMDX) announced on April 18, 2022, the grant of non-qualified stock options to three employees, allowing the purchase of 29,800 shares of common stock at an exercise price of $22.48. The stock options were approved by the Compensation Committee and adhere to Nasdaq Listing Rule 5635(c)(4). Vesting includes a 25% share after the first year and the remainder monthly over three years, contingent on continued employment. TransMedics focuses on organ transplant therapy innovation, enhancing organ viability and utilization for patients with end-stage organ failure.

Positive

• Grant of stock options to attract talent.
• Inducement options facilitate employee retention with a structured vesting schedule.

Negative

• None.

ANDOVER, Mass., April 21, 2022 /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 April 18, 2022, TransMedics granted non-qualified stock options to purchase an aggregate of 29,800 shares of its common stock to three 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 three new employees to purchase 29,800 shares of TransMedics' common stock in the aggregate. The stock options were granted with a per share exercise price of $22.48, 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
332-895-3222
Investors@transmedics.com 

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SOURCE TransMedics Group, Inc.

FAQ

What is TransMedics Group's recent stock option grant?

TransMedics granted non-qualified stock options for 29,800 shares at $22.48 to three employees on April 18, 2022.

How does the vesting schedule work for the stock options granted by TransMedics?

The stock options vest 25% after the first year and the remainder in monthly increments over three years.

What does the stock option grant comply with?

The stock option grant is in accordance with Nasdaq Listing Rule 5635(c)(4) and the TransMedics Inducement Plan.

What is TransMedics Group's focus in the healthcare sector?

TransMedics specializes in organ transplant technology, improving organ quality and viability.