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NEW YORK, May 17, 2021 (GLOBE NEWSWIRE) -- LifeMD, Inc. (“the Company”) (NASDAQ: LFMD), a leading direct-to-patient telehealth company, today announced that the Compensation Committee of the Company’s Board of Directors granted an equity award to a new employee. The equity award was an inducement material to the employee’s acceptance of employment with the Company. The award was granted outside of the Company’s 2020 Equity and Incentive Plan (but consistent with its terms) and approved on May 17, 2021, in accordance with Nasdaq Listing Rule 5635(c)(4).
The employee received options to purchase an aggregate of 75,000 shares of LifeMD, Inc. common stock. The options have an exercise price of $7.73, which is equal to the closing price of LifeMD common stock on May 17, 2021, the grant date of the award. The options will vest in three equal installments annually over a 3-year period that commences on the date of grant, subject to the employee’s continued employment with LifeMD on such vesting dates. The options have a five-year term.
LifeMD, Inc. is a rapidly growing direct-to-patient telehealth company, offering cash-pay virtual medical care across all 50 states. LifeMD’s telemedicine platform enables virtual access to affordable and convenient medical treatment from licensed providers and, when appropriate, prescription medications and over-the-counter products delivered directly to the patient's home. To learn more, visit www.LifeMD.com
Cautionary Note Regarding Forward Looking Statements
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies and prospects -- both business and financial. While we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to LifeMD, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
Marc Benathen, CFO
Investor Relations Contact
LifeSci Advisors, LLC