Neuronetics Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
MALVERN, Pa., Dec. 16, 2024 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ: STIM) (the “Company”) today announced the granting of inducement awards to new employees as described below. In accordance with NASDAQ Listing Rule 5635(c)(4), these awards were approved by the Compensation Committee of the Company’s Board of Directors and were made as material inducements to the recipients’ employment with the Company. In all cases, vesting is subject to the recipient’s continued service with the Company through the applicable vesting date, and the awards are subject to the terms of the Company’s 2020 Inducement Incentive Plan.
Performance restricted stock units (“PRSUs”)
| Name | Number of PRSUs | Vesting Date |
| Bill Leonard | 100,000 | December 31, 2025 |
| Andy Crish | 60,000 | December 31, 2025 |
| Geoff Grammer | 60,000 | December 31, 2025 |
| Peter Willett | 60,000 | December 31, 2025 |
25% of the award will be attained if the Company achieves cash flow breakeven for the fiscal quarter ended June 30, 2025, 50% of the award will be attained if the Company achieves cash flow breakeven for the fiscal quarter ended September 30, 2025, and 25% of the award will be attained if the Company achieves cash flow breakeven for the fiscal quarter ended December 31, 2025.
Restricted stock units (“RSUs”)
| Name | Number of Inducement Plan RSUs | Vesting Schedule |
| Bill Leonard | 100,000 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date |
| Bill Leonard | 100,000 | 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date; 1/3 on fourth anniversary of grant date |
| Andy Crish | 33,750 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date |
| Andy Crish | 33,750 | 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date; 1/3 on fourth anniversary of grant date |
| Geoff Grammer | 33,750 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date |
| Geoff Grammer | 33,750 | 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date; 1/3 on fourth anniversary of grant date |
| Peter Willett | 33,750 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date |
| Peter Willett | 33,750 | 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date; 1/3 on fourth anniversary of grant date |
| Latoya Blaylock | 24,000 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date |
| Latoya Blaylock | 16,000 | 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date; 1/3 on fourth anniversary of grant date |
| Annie Farley | 24,000 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date |
| Annie Farley | 16,000 | 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date; 1/3 on fourth anniversary of grant date |
| Thomas Harris | 24,000 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date |
| Thomas Harris | 16,000 | 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date; 1/3 on fourth anniversary of grant date |
| Nicole Lowry | 24,000 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date |
| Nicole Lowry | 16,000 | 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date; 1/3 on fourth anniversary of grant date |
| Bryce Newmann | 24,000 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date |
| Bryce Newmann | 16,000 | 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date; 1/3 on fourth anniversary of grant date |
| Egan Pratt | 24,000 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date |
| Egan Pratt | 16,000 | 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date; 1/3 on fourth anniversary of grant date |
About Neuronetics and Greenbrook
Neuronetics, Inc. (“Neuronetics”) believes that mental health is as important as physical health. As a global leader in neuroscience, Neuronetics is redefining patient and physician expectations by offering exceptional treatments that produce extraordinary results. Neuronetics’ NeuroStar Advanced Therapy for Mental Health is a non-drug, noninvasive treatment that can improve the quality of life for people suffering from neurohealth conditions when traditional medication has not helped. In addition to selling the NeuroStar system and associated treatment sessions to customers, Greenbrook TMS Inc. (“Greenbrook”) operates treatment centers across the United States, offering both NeuroStar Advanced Therapy (transcranial magnetic stimulation or “TMS”) and Spravato® (esketamine nasal spray) for the treatment of major depressive disorder (“MDD”) and other mental health disorders. NeuroStar Advanced Therapy is the leading TMS treatment for MDD in adults with more than 6.9 million treatments delivered and is backed by the largest clinical data set of any TMS treatment system for depression, including the world’s largest depression outcomes registry. Spravato® is offered to treat adults with treatment-resistant depression and depressive symptoms in adults with MDD with suicidal thoughts or actions. Greenbrook has provided more than 1.68 million treatments to over 51,000 patients struggling with depression.
Investor Contact:
Mike Vallie or Mark Klausner
ICR Healthcare
443-213-0499
ir@neuronetics.com
Media Contact:
EvolveMKD
646-517-4220
NeuroStar@evolvemkd.com
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