ANDOVER, Mass., Feb. 24, 2023 /PRNewswire/ -- TransMedics Group, Inc. ("TransMedics") (Nasdaq: TMDX), a medical technology company that is transforming organ transplant therapy for patients with end-stage lung, heart, and liver failure, today announced that on February 20, 2023, TransMedics granted non-qualified stock options to purchase an aggregate of 72,774 shares of its common stock to seven employees and an aggregate of 17,092 restricted stock units to three employees, each as a material inducement for each employee's entry into employment with TransMedics. The grants included stock options to purchase 19,732 shares of TransMedics' common stock and 12,886 restricted stock units granted to Nick Corcoran, the Company's Senior Vice President of Supply Chain and Operations. The grants were approved by the Compensation Committee of the TransMedics Board of Directors and were granted in accordance with Nasdaq Listing Rule 5635(c)(4) and pursuant to the TransMedics Group, Inc. Inducement Plan.
TransMedics granted non-qualified stock options to purchase 72,774 shares of TransMedics' common stock and 17,092 restricted stock units in the aggregate. The stock options were granted with a per share exercise price of $66.10, the closing price of the common stock on the Nasdaq Global Market on February 17, 2023. Twenty-five percent of the shares subject to each option will vest on the first yearly anniversary of the date of the employee's start of employment, with the remainder vesting in equal monthly installments over the subsequent three year period, subject to the employee's continued service with the Company through the applicable vesting date. The options have a 10-year term and are subject to the terms of the TransMedics Group, Inc. Inducement Plan. Twenty-five percent of each restricted stock unit award will vest on the first four anniversaries of the date of the employee's start of employment, subject to the employee's continued service with the Company through the applicable vesting date. The restricted stock units are subject to the terms of the TransMedics Group, Inc. Inducement Plan.
About TransMedics Group, Inc.
TransMedics is the world's leader in portable extracorporeal warm perfusion and assessment of donor organs for transplantation. Headquartered in Andover, Massachusetts, the company was founded to address the unmet need for more and better organs for transplantation and has developed technologies to preserve organ quality, assess organ viability prior to transplant, and potentially increase the utilization of donor organs for the treatment of end-stage heart, lung, and liver failure.
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SOURCE TransMedics Group, Inc.