Company Reports Inducement Grants Under Nasdaq Listing Rule 5635(C)(4)
02 Febrero 2024 - 3:15PM
Axogen, Inc. (NASDAQ: AXGN), a global leader in developing and
marketing innovative surgical solutions for peripheral nerve
injuries, today announced making Inducement Grants Under NASDAQ
Listing Rule 5635(c)(4) in connection with the employment and
appointment of John Manning to the position of Area Vice President
of Sales. Mr. Manning will report to Doris Quackenbush, Vice
President of Sales.
In connection with the commencement of his employment on January
22, 2024, and as a material inducement of employment, Mr. Manning
was awarded an equity grant on February 1, 2024, consisting of (i)
non-qualified stock options to purchase 18,700 shares of the
Company’s common stock and (ii) non-qualified restricted stock
units (“RSUs”) representing 10,000 shares of the Company’s common
stock. The stock options have an exercise price of $9.75 per share,
a 10-year term, and will vest over a four-year period, with 50%
vesting after the second year and 12.5% of the total shares granted
vesting every six months thereafter for the next two years. 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.
About Axogen
Axogen (AXGN) is the leading Company focused
specifically on the science, development, and commercialization of
technologies for peripheral nerve regeneration and repair. Axogen
employees are passionate about helping to restore peripheral nerve
function and quality of life to patients with physical damage or
transection to peripheral nerves by providing innovative,
clinically proven, and economically effective repair solutions for
surgeons and health care providers. Peripheral nerves provide the
pathways for both motor and sensory signals throughout the body.
Every day, people suffer traumatic injuries or undergo surgical
procedures that impact the function of their peripheral nerves.
Physical damage to a peripheral nerve, or the inability to properly
reconnect peripheral nerves, can result in the loss of muscle or
organ function, the loss of sensory feeling, or the initiation of
pain.
Axogen's platform for peripheral nerve repair
features a comprehensive portfolio of products that are used across
two primary application categories: scheduled, non-trauma
procedures and emergent trauma procedures. Scheduled procedures are
generally characterized as those where a patient is seeking relief
from conditions caused by a nerve defect or surgical procedure.
These procedures include providing sensation for women seeking
breast reconstruction following a mastectomy, nerve reconstruction
following the surgical removal of painful neuromas, oral and
maxillofacial procedures, and nerve decompression. Emergent
procedures are generally characterized as procedures resulting from
injuries that are initially present in an ER. These procedures are
typically referred to and completed by a specialist either
immediately or within a few days following the initial injury.
Axogen’s product portfolio includes Avance®
nerve graft, a biologically active off-the-shelf processed human
nerve allograft for bridging severed peripheral nerves without the
comorbidities associated with a second surgical site; Axoguard
Nerve Connector®, a porcine submucosa ECM coaptation aid for
tensionless repair of severed peripheral nerves; Axoguard Nerve
Protector®, a porcine submucosa ECM product used to wrap and
protect damaged peripheral nerves and reinforce the nerve
reconstruction while preventing soft tissue attachments; Axoguard
HA+ Nerve Protector™, a porcine submucosa ECM base layer coated
with a proprietary hyaluronate-alginate gel, a next-generation
technology designed to enhance nerve gliding and provide short- and
long-term protection for peripheral nerve injuries; and Axoguard
Nerve Cap®, a porcine submucosa ECM product used to protect a
peripheral nerve end and separate the nerve from the surrounding
environment to reduce the development of symptomatic or painful
neuroma. The Axogen portfolio of products is available in the
United States, Canada, Germany, the United Kingdom, Spain, South
Korea, and several other countries.
For more information, visit www.axogeninc.com
Contact:
Axogen, Inc.Harold D. Tamayo, Vice President of
Finance and Investor Relationshtamayo@axogeninc.com
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