Neuronetics Expands Workforce with Inducement Grants for Growth

Neuronetics Announces Inducement Grants to New Employees

MALVERN, Pa. — Neuronetics, Inc. (NASDAQ: STIM), a prominent player in medical technology focused on advancing neurohealth, has made the pivotal decision to grant inducement awards to twelve newly recruited employees. This initiative is designed to strengthen the company's workforce and is aligned with the objectives laid out under NASDAQ Listing Rule 5635(c)(4). Each award comes as a key incentive to attract and retain talent, approved by Neuronetics' Compensation Committee, underscoring the company's commitment to fostering a productive and innovative environment.

Details of the Inducement Awards

These inducement awards are structured as restricted stock units (RSUs), a form of compensation that can greatly enhance employee engagement and retention. For these awards to vest, recipients must continue their service with Neuronetics through specific vesting dates. A detailed breakdown of the awards reflects a standardized vesting schedule: one-third of the units will vest on the first, second, and third anniversaries of the grant date, contingent on ongoing employment.

Meet the New Recipients of Inducement RSUs

Among the twelve new employees receiving these RSUs are individuals like William Kyle, who will receive 1,500 units, and Ryan McCarthy, who is also set to benefit from the same amount. Each recipient's journey with Neuronetics will include a commitment to growth in their respective roles, contributing to the company's overall mission of enhancing the quality of life for individuals facing neurohealth challenges.

Understanding Neuronetics’ Commitment to Mental Health

Neuronetics firmly believes that mental health is as crucial as physical well-being. As a global leader in neuroscience, the company's portfolio includes innovative treatments designed to provide effective alternatives for patients when traditional therapies fail. Their flagship product, the NeuroStar Advanced Therapy System, is recognized for its success in treating major depressive disorder (MDD) non-invasively, thus providing patients with hope when other options have not worked.

Expanding the Reach of NeuroStar Advanced Therapy

The NeuroStar Advanced Therapy is not just a treatment, but a beacon of innovation backed by extensive clinical research. With more than 7.6 million treatments administered, it holds the distinction of being the leading transcranial magnetic stimulation (TMS) therapy in adults. This system boasts the largest clinical database supporting TMS use for depression, ensuring patients benefit from proven and effective care.

Greenbrook TMS Inc. Treatment Centers

In collaboration with Greenbrook TMS Inc., Neuronetics operates numerous treatment centers throughout the United States, making advanced therapy accessible to a wider populace. These centers provide NeuroStar therapy for MDD and other related mental health disorders. Furthermore, they also offer SPRAVATO® (esketamine) Nasal Spray, which is particularly aimed at treating treatment-resistant depression in combination with antidepressants.

FDA Certification and Future Outlook

Neuronetics takes pride in the FDA clearance of the NeuroStar Advanced Therapy System, which is authorized for use in treating various mental health issues, including MDD and obsessive-compulsive disorder, alongside addressing comorbid anxiety symptoms. The company’s progressive approach not only reflects their dedication to mental health solutions but also positions them at the forefront of a rapidly evolving industry.

For those interested in the specifics regarding the use and safety of these therapies, more detailed information can be found on their official website. It's essential for potential patients and practitioners to stay informed regarding the benefits and limitations of these advanced treatment options.

Investor Contact Information

For any inquiries related to investment opportunities or details about operations, interested parties may contact Mike Vallie or Mark Klausner from ICR Healthcare at 443-213-0499. They can also reach out via email at ir@neuronetics.com for further information.

Frequently Asked Questions

What are the inducement grants announced by Neuronetics?

Neuronetics has granted inducement awards in the form of restricted stock units to twelve new employees to strengthen its workforce.

How do the inducement grants work?

The RSUs vest over three years, with one-third becoming available on each anniversary of the grant date, contingent upon continued employment.

What is NeuroStar Advanced Therapy?

NeuroStar Advanced Therapy is a non-invasive treatment for major depressive disorder, renowned for its safety and efficacy.

Where can NeuroStar therapies be accessed?

Neuronetics provides treatment through multiple Greenbrook TMS Inc. centers across the United States, enhancing accessibility for patients.

Who can be contacted for investor inquiries regarding Neuronetics?

Mike Vallie and Mark Klausner are the designated contacts who can provide further information on investment-related queries.

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