Neuronetics Expands Workforce with New Stock Incentives
MALVERN, Pa. — Neuronetics, Inc. (NASDAQ: STIM), a pioneering medical technology firm, is focused on enhancing the quality of life for individuals facing neurohealth disorders. The company has recently announced that it granted inducement awards in the form of Restricted Stock Units (RSUs), totaling 24,750 shares of its common stock, to three new non-executive employees. This move is in line with NASDAQ Listing Rule 5635(c)(4) and has been approved by Neuronetics’ Compensation Committee as a way to attract talent to the company.
The awarded RSUs are structured to vest at different intervals. Three of the grants will vest evenly over three anniversaries of the grant date, while one grant will vest over four years. This gradual vesting is contingent on the employees remaining with Neuronetics throughout the designated periods. Additionally, the RSUs are subject to the Neuronetics 2020 Inducement Plan, reflecting the company’s commitment to rewarding and retaining top talent.
Neuronetics: A Leader in Mental Health Solutions
At Neuronetics, enhancing mental well-being is a core mission. As a leader in neuroscience, the company aims to transform the landscape of mental health treatment. The NeuroStar Advanced Therapy for Mental Health represents a significant advancement in noninvasive treatment methods that can significantly improve the lives of those with neurohealth conditions who have not found relief through traditional medications.
Greenbrook TMS Inc., as part of Neuronetics’ strategy, runs treatment centers across the United States, providing patients with both NeuroStar Advanced Therapy and Spravato® (esketamine nasal spray). NeuroStar Advanced Therapy is recognized as the leading transcranial magnetic stimulation (TMS) treatment for Major Depressive Disorder (MDD) in adults, having delivered over 6.9 million treatments. This system is supported by an unparalleled clinical data set, which includes the world’s largest outcomes registry for depression treatments.
Innovative Treatment Options
Neuronetics is dedicated to making a real difference in the world of mental health. The non-drug approach of NeuroStar enables patients to achieve improvements when traditional therapies fail. By focusing on innovative, evidence-based treatment methods, Neuronetics is changing perceptions and results for patients struggling with depression.
Collaborating for Better Outcomes
The partnership with Greenbrook underscores Neuronetics’ commitment to expanding access to advanced therapeutic options. Greenbrook operates numerous treatment facilities, delivering effective TMS therapy and Spravato to patients grappling with severe depressive symptoms, including those with suicidal thoughts.
Since inception, Greenbrook has successfully provided over 1.68 million treatments to more than 51,000 individuals seeking relief from depression. This extensive experience not only highlights the effectiveness of their protocols but also emphasizes Neuronetics’ pivotal role in navigating the complexities of mental health care.
Engaging Investors and Stakeholders
Neuronetics recognizes the importance of transparent dialogue with its investors and media contacts. As the company advances in its mission, it actively encourages feedback and inquiries from stakeholders. For investor relations, Mike Vallie and Mark Klausner can be contacted through ICR Healthcare. Their direct phone line is 443-213-0499, or they can be reached via email at ir@neuronetics.com. Additionally, for media inquiries, EvolveMKD is available at 646-517-4220, or at their designated email address NeuroStar@evolvemkd.com.
Frequently Asked Questions
What is the purpose of the RSUs granted by Neuronetics?
The RSUs serve as inducements for attracting and retaining new employees, aligning their interests with those of the company.
How does NeuroStar Advanced Therapy work?
NeuroStar Advanced Therapy uses noninvasive transcranial magnetic stimulation (TMS) to treat individuals with Major Depressive Disorder who may not have responded to traditional treatments.
What is Greenbrook’s role in Neuronetics’ operations?
Greenbrook TMS Inc. operates treatment centers that provide NeuroStar Advanced Therapy and Spravato to patients across the United States.
How many treatments has Greenbrook provided?
Greenbrook has delivered over 1.68 million treatments, helping more than 51,000 patients manage their depression effectively.
Who can I contact for more information about Neuronetics?
You can reach investor relations through Mike Vallie or Mark Klausner at 443-213-0499 or ir@neuronetics.com. For media inquiries, contact EvolveMKD at 646-517-4220 or NeuroStar@evolvemkd.com.
