A leading performance beauty enterprise, specializing in curating an aesthetic range of consumer brands, has announced the allocation of non-qualified stock options for the acquisition of a combined total of 10,990 shares of Evolus, alongside 42,759 restricted stock units (RSUs) of the company’s common stock, extended to 14 recently onboarded non-executive staff members. These grants were endorsed by the compensation committee of Evolus’ board of directors under the 2023 Inducement Incentive Plan. The commencement of granting and vesting was scheduled for May 7, 2024, as a pivotal inducement for the new employees, aligning with Nasdaq Listing Rule 5635(c)(4).
The stock options have been priced at $13.42 per share, mirroring Evolus’ common stock’s closing value on the preceding trading day. These options will remain exercisable for a period of 10 years, with vesting spread over a span of 4 years, releasing 25% of the shares subject to the option annually, starting from the vesting commencement date. Similarly, the RSUs will vest in increments of 25% on each annual anniversary from the vesting initiation. Both awards are contingent upon adherence to the stipulations outlined in the 2023 Inducement Incentive Plan, as well as the terms delineated in the respective stock option or RSU agreements, including the requirement of continuous employment on each vesting date.
Evolus (NASDAQ: EOLS) stands as a global leader in performance beauty, revolutionizing the aesthetic neurotoxin market to cater to the evolving preferences of modern beauty enthusiasts. Fueled by a customer-centric approach and innovative digital platform, our mission is to emerge as a prominent player in the global aesthetics sphere, anchored by our flagship offering, Jeuveau® (prabotulinumtoxinA-xvfs) — the pioneering neurotoxin exclusively tailored for aesthetic purposes, crafted in a cutting-edge facility utilizing Hi-Pure™ technology. Expanding our product repertoire, Evolus has entered into strategic agreements to serve as the sole U.S. distributor of Evolysse™ and the exclusive distributor of Estyme® in Europe — a range of distinctive dermal fillers currently in advanced developmental stages.
