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Sientra Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
SANTA BARBARA, Calif., Aug. 10, 2018 (GLOBE NEWSWIRE) -- Sientra, Inc. (Nasdaq:SIEN) (the “Company”) today announced that on August 8, 2018, Paul Little received an equity award grant from the Compensation Committee of the Board of Directors approved under the Sientra Inc. Inducement Plan.
Mr. Little was granted restricted stock units representing a total of 50,000 shares of common stock. The restricted stock units will vest in three equal annual installments beginning on the grant date. The vesting of shares is contingent upon Mr. Little’s continued employment with the Company through each vesting date.
The grant was made as an inducement that was a material component of Mr. Little’s compensation and subsequent acceptance of employment with the Company and was granted as an employment inducement award pursuant to NASDAQ Listing Rule 5635(c)(4) approved by the Compensation Committee.
About Sientra, Inc.
Headquartered in Santa Barbara, California, Sientra is a medical aesthetics company committed to making a difference in patients’ lives by enhancing their body image, growing their self-esteem and restoring their confidence. The Company was founded to provide greater choice to board-certified plastic surgeons and patients in need of medical aesthetics products. The Company has developed a broad portfolio of products with technologically differentiated characteristics, supported by independent laboratory testing and strong clinical trial outcomes. The Company sells its breast implants and breast tissue expanders exclusively to board-certified and board-admissible plastic surgeons and tailors its customer service offerings to their specific needs. The Company also offers a range of other aesthetic and specialty products including BIOCORNEUM®, the professional choice in scar management, and miraDry, the only FDA cleared device to reduce underarm sweat, odor and permanently reduce hair of all colors.
Sientra, Chief Financial Officer
Tram Bui / Brian Johnston
The Ruth Group
(646) 536-7035 / (646) 536-7028