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

Rhea-AI Summary

TransMedics Group, Inc. (Nasdaq: TMDX) announced the grant of non-qualified stock options for 35,000 shares to three employees as an inducement for their employment, per Nasdaq Listing Rule 5635(c)(4). Each option has an exercise price of $28.12, equivalent to the stock's closing price on June 1, 2022. The options will vest 25% on the first anniversary and the remainder monthly over three years, subject to continued service. This initiative is part of TransMedics' strategy to enhance its workforce, focusing on organ transplant therapy for patients with end-stage organ failure.

Positive

• Granting of stock options could attract and retain talent in a specialized field.
• Options have a long 10-year term, potentially aligning employee interests with company growth.

Negative

• None.

ANDOVER, Mass., June 3, 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 June 1, 2022, TransMedics granted non-qualified stock options to purchase an aggregate of 35,000 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 35,000 shares of TransMedics' common stock in the aggregate. The stock options were granted with a per share exercise price of $28.12, 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 recent stock option grant was made by TransMedics (TMDX)?

On June 1, 2022, TransMedics granted 35,000 stock options to three employees.

What is the exercise price for the stock options granted by TransMedics (TMDX)?

The exercise price for the options is $28.12, equal to the closing stock price on the grant date.

How will the stock options vest for TransMedics employees?

The options will vest 25% on the first anniversary, with the remainder vesting in equal monthly installments over three years.

What is the significance of the stock options grant at TransMedics (TMDX)?

This grant is intended to attract and retain key talent, aligning employee incentives with company performance.