AXGN - Company Reports Inducement Grants Under Nasdaq Listing Rule 5635(C)(4) | Benzinga
ALACHUA, Fla. and TAMPA, Fla., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Axogen, Inc. (NASDAQ:AXGN), a global leader in developing and marketing innovative surgical solutions for peripheral nerve injuries, today announced making Inducement Grants Under NASDAQ Listing Rule 5635(c)(4) in connection with the employment and appointment of John Manning to the position of Area Vice President of Sales. Mr. Manning will report to Doris Quackenbush, Vice President of Sales.
In connection with the commencement of his employment on January 22, 2024, and as a material inducement of employment, Mr. Manning was awarded an equity grant on February 1, 2024, consisting of (i) non-qualified stock options to purchase 18,700 shares of the Company's common stock and (ii) non-qualified restricted stock units ("RSUs") representing 10,000 shares of the Company's common stock. The stock options have an exercise price of $9.75 per share, a 10-year term, and will vest over a four-year period, with 50% vesting after the second year and 12.5% of the total shares granted vesting every six months thereafter for the next two years. The RSUs are subject to vesting over 4 years, with 50% vesting after the second year and ...