Cutera, Inc. announced that on August 17,2023 the Compensation Committee of Cutera’s Board of Directors approved the grant of inducement awards to Jeffrey Jones, who joined Cutera on August 28, 2023, as the Chief Operating Officer.
The stock options were granted on August 28, 2023, and have an exercise price of $9.61 per share, which is equal to the closing price of a share of Cutera common stock on the grant date. A quantity of 25% shall vest on August 28, 2024, and 1/48 of the RSUs shall vest each month thereafter, subject to Mr. Jones continuing as an employee.
The RSUs were granted on August 28, 2023. A quantity of 25% shall vest on August 28, 2024, and 1/12 of the RSUs shall vest each quarter thereafter, subject to Mr. Jones continuing as an employee.
The PSUs were granted on August 28, 2023. The performance-based vesting schedule and targets will be determined by Cutera’s Board of Directors or Compensation Committee.
Each inducement award is subject to the terms of the Cutera, Inc. 2023 Inducement Equity Incentive Plan and related forms of agreements and were granted as inducements material to these employees to enter into employment with Cutera in accordance with Nasdaq Listing Rule 5635(c)(4).
About Cutera, Inc.
Brisbane, California-based Cutera is a leading provider of aesthetic and dermatology solutions for practitioners worldwide. Since 1998, Cutera has been developing innovative, easy-to-use products that harness the power of science and nature to enable medical practitioners to offer safe and effective treatments to their patients. For more information, call +1-415-657-5500 or 1-888-4CUTERA or visit www.cutera.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230901645993/en/
Greg Barker
VP, Corporate FP&A and Investor Relations
415-657-5500
IR@cutera.com
Source: Cutera, Inc.
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