MedAvail Reports Inducement Grants as Permitted by the Nasdaq Listing Rules
November 28 2022 - 4:05PM
MedAvail Holdings, Inc. (Nasdaq: MDVL) (“MedAvail”), a
technology-enabled retail pharmacy company, today announced that
on November 22, 2022, the compensation committee of MedAvail’s
board of directors approved the grant of inducement awards to five
newly-hired employees. The inducement awards cover an
aggregate of 445,060 shares of MedAvail’s common stock, of which
50% are options to purchase and 50% are restricted stock units
(RSUs).
Each inducement stock option was granted on November 22,
2022 and has an exercise price of $0.59 per share, which
is equal to the closing price of a share of MedAvail common stock
on the grant date, and shall vest over four years as follows:
either (i) 25% of the shares subject to such inducement stock
option shall vest on the one year anniversary of the date that
employment commenced, or (ii) one forty-eighth (1/48th) of the
shares subject to such inducement stock option shall vest on the
one month anniversary of the date that employment commenced, and in
both the cases of (i) and (ii), an additional one forty-eighth
(1/48th) of the shares subject to such inducement stock option
shall vest monthly thereafter.
Each inducement RSU award was granted on November 22, 2022
and shall vest as follows: one-third (1/3rd) of the shares subject
to each inducement RSU award shall vest on the first, second and
third yearly anniversaries of the first day of the third month
of the quarter following the employee’s hire date.
Each inducement award is subject to the terms of
the MedAvail Holdings, Inc. 2022 Inducement Equity
Incentive Plan and related forms of agreements and were granted as
inducements material to these employees to enter into employment
with MedAvail in accordance with Nasdaq Listing Rule
5635(c)(4).
About MedAvail
MedAvail Holdings, Inc. (NASDAQ: MDVL) is a technology-enabled
pharmacy company, providing turnkey in-clinic pharmacy services
through its proprietary robotic dispensing platform, the MedAvail
MedCenter, and home delivery operations, to Medicare clinics.
MedAvail helps patients to optimize drug adherence, resulting in
better health outcomes. Learn more at www.medavail.com.
Contacts:
Investor RelationsJi-Yon YiGilmartin
Groupir@medavail.comSOURCE MedAvail Holdings, Inc.
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