The grants, issued on July 29, consist of 18,762 non-qualified stock options and 12,414 restricted stock units. Each option carries an exercise price of $78.00, matching the closing price of TransMedics common stock on the Nasdaq Global Market on the day of the award. These incentives follow the company’s Inducement Plan, which aligns with Nasdaq Listing Rule 5635(c)(4) for attracting new personnel.
TransMedics Issues Stock Inducements to Nine New Hires
Nine new employees at Andover-based medical technology firm TransMedics Group have received equity grants as a condition of their recent hiring. The compensation package includes both stock options and restricted stock units, approved by the company's board to secure talent for its organ transplant therapy division.
Vesting schedules for the new awards depend on continued service. For the stock options, 25% of the shares vest one year after the employee's start date, with the remaining balance vesting in equal monthly installments over the following three years. The options carry a 10-year expiration term. The restricted stock units follow a different timeline, with 25% of the award vesting annually over a four-year period.
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