TransMedics Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
ANDOVER, Mass., Aug. 7, 2023 /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 August 1, 2023, TransMedics granted non-qualified stock options to purchase an aggregate of 48,112 shares of its common stock and an aggregate of 31,109 restricted stock units to 16 employees, each as a material inducement for each employee's entry into employment with TransMedics. The grants included stock options to purchase 14,709 shares of TransMedics' common stock and 9,512 restricted stock units granted to Anil Ranganath, the Company's Senior Vice President, General Counsel, and Corporate Secretary. 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 48,112 shares of TransMedics' common stock and 31,109 restricted stock units in the aggregate. The stock options were granted with a per share exercise price of $93.88, the closing price of the common stock on the Nasdaq Global Market on August 1, 2023. 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
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SOURCE TransMedics Group, Inc.
