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Release Details
Each inducement stock option was granted on November 22, 2022 and has an exercise price of $0.59 per share, which is equal to the closing price of a share of MedAvail common stock on the grant date, and shall vest over four years as follows: either (i) 25% of the shares subject to such inducement stock option shall vest on the one year anniversary of the date that employment commenced, or (ii) one forty-eighth (1/48th) of the shares subject to such inducement stock option shall vest on the one month anniversary of the date that employment commenced, and in both the cases of (i) and (ii), an additional one forty-eighth (1/48th) of the shares subject to such inducement stock option shall vest monthly thereafter.
Each inducement RSU award was granted on November 22, 2022 and shall vest as follows: one-third (1/3rd) of the shares subject to each inducement RSU award shall vest on the first, second and third yearly anniversaries of the first day of the third month of the quarter following the employee’s hire date.
Each inducement award is subject to the terms of the MedAvail Holdings, Inc. 2022 Inducement Equity Incentive Plan and related forms of agreements and were granted as inducements material to these employees to enter into employment with MedAvail in accordance with Nasdaq Listing Rule 5635(c)(4).
About MedAvail
Contacts:
Investor Relations
Ji-Yon Yi
Gilmartin Group MedAvail Holdings, Inc.
ir@medavail.com
SOURCE
1.877.830.0826
info@medavail.com
ir@medavail.com
Home office:
4720 E. Cotton Gin Loop
Suite 220
Phoenix, AZ 85040
Canada office:
6665 Millcreek Dr. Unit 1
Mississauga, ON L5N 5M4 Canada
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