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electroCore Announces Inducement Grant under NASDAQ Listing Rule 5635(c)(4)

Key Takeaway: electroCore, Inc. announced the appointment of Stephen Smith as the Vice President of Quality, Regulatory, and Compliance, effective August 1, 2024. As part of his employment, the company granted him 10,000 restricted stock units under NASDAQ Listing Rule 5635(c)(4). The RSUs will vest over a three-year period contingent on Smith's continued employment with the company. electroCore specializes in bioelectronic medicine and wellness through its vagus nerve stimulation technology.

Market Sentiment Analysis

POSITIVE FACTORS

  • Appointment of Stephen Smith as VP, Quality, Regulatory, and Compliance, indicates a strengthening of the leadership team.
  • The grant of 10,000 RSUs may motivate Mr. Smith, aligning his interests with those of shareholders.
  • The company's focus on nVNS technology showcases innovation in bioelectronic medicine.

Full Press Release Details

ROCKAWAY, N.J., Aug. 02, 2024 (GLOBE NEWSWIRE) -- electroCore, Inc. (the “Company”), (NASDAQ: ECOR), a commercial-stage bioelectronic medicine and wellness company, today announced that on August 1, 2024, Stephen Smith joined electroCore as the Company’s VP, Quality, Regulatory, and Compliance, and the Compensation Committee of electroCore’s Board of Directors granted 10,000 restricted stock units (“RSUs”) to Mr. Smith in connection with the commencement of his employment. The RSUs were granted as an inducement material to Mr. Smith’s commencement of employment pursuant to NASDAQ Listing Rule 5635(c)(4). 33% of the RSUs will vest on each of the first, second and third anniversaries of the date of grant, subject to Mr. Smith’s continued employment by the Company on the applicable vesting date.
About electroCore, Inc.
electroCore, Inc. is a commercial stage bioelectronic medicine and wellness company dedicated to improving health and promoting general wellness through its non-invasive vagus nerve stimulation (“nVNS”) technology platform. The company’s is focused on the commercialization of medical devices for the management and treatment of certain medical conditions and consumer product offerings utilizing nVNS to promote general wellbeing and human performance in the United States and select overseas markets.
For more information, visit www.electrocore.com.
ECOR Investor Relations

Frequently Asked Questions

Who is the new VP of Quality at electroCore?

Stephen Smith has joined electroCore as the VP, Quality, Regulatory, and Compliance.

What are restricted stock units (RSUs) granted to Mr. Smith?

Mr. Smith received 10,000 RSUs as part of his employment with electroCore.

What is the focus of electroCore, Inc.?

electroCore focuses on bioelectronic medicine through non-invasive vagus nerve stimulation.

When do the RSUs for Mr. Smith vest?

The RSUs will vest in three equal parts over three years.

What is electroCore's technology platform?

The company utilizes a non-invasive vagus nerve stimulation technology platform.

Last updated: Aug 2, 2024