TransEnterix Announces New Employment Inducement Grant
Non-qualified stock options to acquire 150,000 shares of the Company’s common stock at an exercise price per share of
$0.42, which was equal to the closing price on August 24, 2020, Mr. Rampertab’s first day of employment. The stock options vest one-third annually on each of April 24, 2021, 2022 and 2023.
30,000 time-based restricted stock units (“RSUs”). The time-based RSUs will vest over three years, one-third each year on
July 1, 2021, 2022 and 2023
20,000 performance-based RSUs. The performance-based RSUs (the “PRSUs”) will have time-based vesting over three years, one-third each year on
July 1, 2021, 2022, and 2023 and are also subject to vesting upon the achievement of a delineated performance goal.
These inducement grants were made outside of the stockholder-approved incentive compensation plan per NYSE American Company Guide Section 711(a). All information in this press release was previously disclosed in a Form 8-K filed with the