Cutera Reports Inducement Grants as Permitted by the Nasdaq Listing Rules
October 06 2023 - 5:00PM
Business Wire
Cutera, Inc. (Nasdaq: CUTR) (“Cutera” or the “Company”), a
leading provider of aesthetic and dermatology solutions, today
announced that on October 3, 2023 the Compensation Committee of
Cutera’s Board of Directors approved the grant of inducement awards
to Brent Hauser, who joined Cutera on October 2, 2023, as the
President, International. The inducement awards consisted of
restricted stock units (RSUs) settleable in 27,358 shares of common
stock, and two grants of performance stock units (PSUs) settleable
in 54,716 shares of common stock and 25,000 shares of common stock,
respectively.
The RSUs were granted on October 3, 2023. A quantity of 25%
shall vest on October 2, 2024, and 1/12 of the RSUs shall vest each
quarter thereafter, subject to Mr. Hauser continuing as an
employee.
The PSU grants were granted on October 3, 2023. Regarding the
PSU grant of 54,716 shares of common stock, the performance-based
vesting schedule and targets will be determined by Cutera’s Board
of Directors or Compensation Committee. The PSU grant of 25,000
shares of common stock has a single performance criteria of the
30-calendar day trailing average of Cutera’s closing common stock
price exceeding $20.00 within four years of the grant date.
Each inducement award is subject to the terms of the Cutera,
Inc. 2023 Inducement Equity Incentive Plan and related forms of
agreements and were granted as inducements material to these
employees to enter into employment with Cutera in accordance with
Nasdaq Listing Rule 5635(c)(4).
About Cutera, Inc.
Brisbane, California-based Cutera is a leading provider of
aesthetic and dermatology solutions for practitioners worldwide.
Since 1998, Cutera has been developing innovative, easy-to-use
products that harness the power of science and nature to enable
medical practitioners to offer safe and effective treatments to
their patients. For more information, call +1-415-657-5500 or
1-888-4CUTERA or visit www.cutera.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20231006071746/en/
Greg Barker VP, Corporate FP&A and Investor Relations
415-657-5500 IR@cutera.com
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