Neuronetics Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
MALVERN, Pa., June 19, 2025 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ:STIM), a commercial stage medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurohealth disorders, today announced the granting of inducement awards to one new non-executive employee as described below. In accordance with NASDAQ Listing Rule 5635(c)(4), these awards were approved by Neuronetics' Compensation Committee and made as a material inducement to their respective employment with the Company. In all cases, vesting is subject to the recipient's continued service with the Company through the applicable vesting date, and the awards are subject to the terms of the Company's 2020 Inducement Incentive Plan.
Performance restricted stock units ("PRSUs")
| Name | Number of Inducement Plan PRSUs | Vesting Schedule |
| Jeff Jones | 30,000 | 50% of the award will be attained if the Company achieves cash flow breakeven for the fiscal quarter ending September 30, 2025, and 50% of the award will be attained if the Company achieves cash flow breakeven for the fiscal quarter ending December 31, 2025, subject in each case to the recipient's continued employment by the Company through the applicable vesting date. |
| Jeff Jones | 27,500 | The award will vest substantially equal installments on December 31, 2025, December 31, 2026, and December 31, 2027 if the Company achieves certain cash balances as of such dates, in each case subject to: (a) continued employment through the applicable vesting date; and (b) interpolated increased or decreased vesting (minimum: 0% vest; maximum: 150% vest) if applicable year-end cash balances are between 90% and 110% of target, subject in each case to the recipient's continued employment by the Company through the applicable vesting date. |
Restricted stock units ("RSUs")
| Name | Number of Inducement Plan RSUs | Vesting Schedule |
| Jeff Jones | 112,500 | 1/3 on first anniversary of grant date; 1/3 on second anniversary of grant date; 1/3 on third anniversary of grant date, subject in each case to the recipient's continued employment by the Company through the applicable vesting date. |
About Neuronetics
Neuronetics, Inc. believes that mental health is as important as physical health. As a global leader in neuroscience, Neuronetics is delivering more treatment options to patients and physicians by offering exceptional in-office treatments that produce extraordinary results. NeuroStar Advanced Therapy is a non-drug, noninvasive treatment that can improve the quality of life for people suffering from neurohealth conditions when traditional medication has not helped. In addition to selling the NeuroStar Advanced Therapy System and associated treatment sessions to customers, Neuronetics operates Greenbrook TMS Inc. (Greenbrook) treatment centers across the United States, offering NeuroStar Advanced Therapy for the treatment of MDD and other mental health disorders. NeuroStar Advanced Therapy is the leading TMS treatment for MDD in adults, with more than 7.4 million treatments delivered, and is backed by the largest clinical data set of any TMS treatment system for depression, including the world's largest depression outcomes registry. Greenbrook treatment centers also offer SPRAVATO® (esketamine) Nasal Spray, a prescription medicine indicated for the treatment of treatment-resistant depression (TRD) in adults as monotherapy or in conjunction with an oral antidepressant. It is also indicated for depressive symptoms in adults with major depressive disorder (MDD) with acute suicidal ideation or behavior in conjunction with an oral antidepressant.1 Greenbrook has provided more than 1.8 million treatments to over 55,000 patients struggling with depression.
The NeuroStar Advanced Therapy System is cleared by the U.S. Food and Drug Administration for adults with MDD, as an adjunct for adults with obsessive-compulsive disorder, to decrease anxiety symptoms in adult patients with MDD that may exhibit comorbid anxiety symptoms (anxious depression), and as a first line adjunct for the treatment of MDD in adolescent patients aged 15-21. For safety information and indications for use, visit NeuroStar.com.
Neuronetics Contact:
Investors:
Mike Vallie or Mark Klausner
ICR Healthcare
443-213-0499
[email protected]
Media:
EvolveMKD
646.517.4220
[email protected]
1 The effectiveness of SPRAVATO® in preventing suicide or in reducing suicidal ideation or behavior has not been demonstrated. Use of SPRAVATO® does not preclude the need for hospitalization if clinically warranted, even if patients experience improvement after an initial dose of SPRAVATO®. For more important safety information about SPRAVATO®, please visit spravatohcp.com.
