Neuronetics has granted restricted stock unit awards to five new non-executive employees as a material inducement to their employment. The awards, approved by the Compensation Committee under the company's 2020 Inducement Incentive Plan, total 81,300 RSUs across the five recipients. Phillip McDaniel received two grants of 18,000 and 12,000 RSUs, Martin Webb received 22,500 and 15,000 RSUs, Nicolas Jackson received 9,000 RSUs, and William Peschel and Alex Vargas each received 2,400 RSUs. Vesting occurs in equal annual installments over three or four years, contingent on continued service.
Neuronetics IncGrant of RSUs to new employees is a routine capital event, not indicative of company performance.