AxoGen reports inducement grants under Nasdaq listing rule

Axogen announced making an inducement grant on July 1, 2024, under NASDAQ listing rule 5635(c)(4) in connection with the hire of a new non-executive employee. In connection with the commencement of employment on June 17, 2024, and as a material inducement of employment, an award was made under the Company’s Inducement Equity Incentive plan consisting of restricted stock units representing 10,000 shares of the Company’s common stock. The RSUs are subject to vesting over 4 years, with 50% vesting after the second year and 25% of the total shares granted vesting every year thereafter for the next two years, subject to continuous employment. In accordance with NASDAQ listing rule 5635(c)(4), the equity was granted as a material inducement to employment and was approved by the Compensation Committee of the Axogen’s Board of Directors.