MALVERN, Pa. – In a move signaling confidence in its future, Neuronetics, Inc. (NASDAQ: STIM) has awarded inducement grants to a new non-executive employee, the company announced today. The compensation committee approved these awards, a standard practice to attract key talent, as per NASDAQ listing rules. Vesting of these awards hinges on the employee’s continued service and is governed by the company’s 2020 Inducement Incentive Plan.
Breaking down the awards:
Performance Restricted Stock Units (PRSUs): Here’s a closer look at the performance-based component:
| Name | Number of Inducement Plan PRSUs | Vesting Schedule |
| Jeff Jones | 30,000 | 50% of the award will be attained if the Company achieves cash flow breakeven for the fiscal quarter ending September 30, 2025, and 50% of the award will be attained if the Company achieves cash flow breakeven for the fiscal quarter ending December 31, 2025, subject in each case to the recipient’s continued employment by the Company through the applicable vesting date. |
| Jeff Jones | 27,500 | The award will vest substantially equal installments on December 31, 2025, December 31, 2026, and December 31, 2027 if the Company achieves certain cash balances as of such dates, in each case subject to: (a) continued employment through the applicable vesting date; and (b) interpolated increased or decreased vesting (minimum: 0% vest; maximum: 150% vest) if applicable year-end cash balances are between 90% and 110% of target, subject in each case to the recipient’s continued employment by the Company through the applicable vesting date. |
Restricted Stock Units (RSUs):
| Name | Number of Inducement Plan RSUs | Vesting Schedule |
| Jeff Jones | 112,500 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date, subject in each case to the recipient’s continued employment by the Company through the applicable vesting date. |
The Neuronetics Story
Neuronetics, a leader in neurotechnology, is focused on improving the lives of those suffering from neurohealth disorders. The company’s flagship product, NeuroStar Advanced Therapy, offers a non-drug, noninvasive treatment for conditions where traditional medications have proven ineffective. The company differentiates itself by offering in-office treatments, providing patients and physicians with advanced therapeutic options. Neuronetics actively provides NeuroStar Advanced Therapy treatments through centers around the United States, focusing on MDD and other mental health disorders. NeuroStar Advanced Therapy is a leader in the treatment of MDD in adults supported by extensive clinical data, including the largest depression outcomes registry. Additionally, treatments at these centers offer SPRAVATO® (esketamine) Nasal Spray, which is for treatment-resistant depression (TRD) and depressive symptoms in adults with major depressive disorder (MDD) who demonstrate acute suicidal ideation or behavior, in conjunction with an oral antidepressant.
The NeuroStar Advanced Therapy System is cleared by the U.S. Food and Drug Administration for adults with MDD, as an adjunct for adults with obsessive-compulsive disorder and to decrease anxiety symptoms in adult patients with MDD that may exhibit comorbid anxiety symptoms (anxious depression), and as a first line adjunct for the treatment of MDD in adolescent patients aged 15-21. For safety information and indications for use, visit NeuroStar.com.
1 The effectiveness of SPRAVATO® in preventing suicide or in reducing suicidal ideation or behavior has not been demonstrated. Use of SPRAVATO® does not preclude the need for hospitalization if clinically warranted, even if patients experience improvement after an initial dose of SPRAVATO®. For more important safety information about SPRAVATO®, please visit spravatohcp.com.
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