Sientra, Inc. (NASDAQ: SIEN) ("Sientra" or the "Company"), a medical aesthetics company, today announced that on February 13, 2020, the Compensation Committee of the Board of Directors approved equity award grants under the Sientra Inc. Inducement Plan to 92 new employees.
The new employees were granted restricted stock units representing a total of 100,862 shares of common stock. The restricted stock units will vest in time-based installments beginning on the grant date. In each case, the vesting of shares is contingent upon the recipient's continued service with the Company through each vesting date.
The grants were made as an inducement that was a material component of each person's compensation and subsequent acceptance of employment with the Company or the Company's miraDry subsidiary, and were granted as employment inducement awards pursuant to NASDAQ Listing Rule 5635(c)(4) approved by the Compensation Committee.
Headquartered in Santa Barbara, California, Sientra is a diversified global medical aesthetics company and a leading partner to aesthetic physicians. The Company offers a suite of products designed to make a difference in patients' lives by enhancing their body image, growing their self-esteem, and restoring their confidence. Sientra has developed a broad portfolio of products with technologically differentiated characteristics, supported by independent laboratory testing and strong clinical trial outcomes. The Company's Breast Products Segment includes its OPUS(TM) breast implants, the first fifth generation breast implants approved by the FDA for sale in the United States, its ground-breaking Allox2(R) breast tissue expander with patented dual-port and integral drain technology, and BIOCORNEUM(R) the #1 performing, preferred and recommended scar gel of plastic surgeons[*]. The Company's miraDry Segment, comprises its miraDry(R) system, which is approved for sale in over 40 international markets, and is the only non-invasive FDA-cleared device for the permanent reduction of underarm sweat, odor and hair of all colors.
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Source: Sientra, Inc.
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