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TransMedics reports inducement grants under Nasdaq listing rule

TransMedics Group, Inc. announced that on May 14, 2024, TransMedics granted non-qualified stock options to purchase an aggregate of 18,320 shares of its common stock and an aggregate of 12,068 restricted stock units to 8 employees, each as a material inducement for each employee’s entry into employment with TransMedics. 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 18,320 shares of TransMedics’ common stock and 12,068 restricted stock units in the aggregate. The stock options were granted with a per share exercise price of $132.44, the closing price of the common stock on the Nasdaq Global Market on May 14, 2024. 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.
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