TransEnterix Announces New Employment Inducement Grant
August 25 2020 - 6:15PM
Business Wire
TransEnterix, Inc. (NYSE American: TRXC), a medical device
company that is digitizing the interface between the surgeon and
the patient to improve minimally invasive surgery, today announced
that in connection with the appointment of Shameze Rampertab as the
Company’s Executive Vice President and Chief Financial Officer
effective August 24, 2020, the Compensation Committee of the
Company’s Board of Directors granted the following inducement
grants to Mr. Rampertab:
- 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 Securities
and Exchange Commission on August 13, 2020.
About TransEnterix
At TransEnterix, Inc., we are digitizing the interface between
the surgeon and the patient to improve minimally invasive surgery
(MIS) through a new category of care called Digital Laparoscopy.
Digitizing the interface enables the use of advanced capabilities
like augmented intelligence, connectivity, and robotics in
laparoscopy, and allows us to address the current clinical,
cognitive and economic shortcomings in surgery. The system features
the first machine vision system for use in robotic surgery which is
powered by the new intelligent Surgical Unit (ISU) that enables
augmented intelligence in surgery. The Senhance® Surgical System
brings the benefits of Digital Laparoscopy to patients around the
world while staying true to the principles of value-based
healthcare. Learn more about Digital Laparoscopy with the Senhance
Surgical System here: https://Senhance.com/. Now available for sale
in the US, the EU, Japan, and select other countries. For a
complete list of indications for use, please visit
https://www.transenterix.com/indications-for-use/.
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version on businesswire.com: https://www.businesswire.com/news/home/20200825005928/en/
Investor Contact: Mark Klausner, +1 443-213-0501
invest@transenterix.com
or
Media Contact: Terri Clevenger, +1 203-682-8297
terri.clevenger@icrinc.com
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