DermTech Grants New CCO Mark Aguillard Inducement Award Under NASDAQ Listing Rule 5635(c)(4)
21 Septembre 2023 - 10:05PM
Business Wire
DermTech, Inc. (NASDAQ: DMTK) (DermTech or the Company), a
leader in precision dermatology enabled by a non-invasive skin
genomics technology, today announced that DermTech’s Compensation
Committee has granted an equity award to its new chief commercial
officer, Mark Aguillard. The award was granted pursuant to the
terms of Mr. Aguillard’s employment letter and as a material
inducement to his joining the Company as chief commercial
officer.
On September 20, 2023, DermTech’s Compensation Committee
approved the grant of an option to purchase 90,000 shares of the
Company’s common stock pursuant to its 2022 Inducement Equity
Incentive Plan, as amended, or the 2022 Inducement Plan, in
accordance with NASDAQ Listing Rule 5635(c)(4). The stock option
has an exercise price of $1.69 per share and a 10-year term.
Subject to Mr. Aguillard’s continued employment, twenty-five
percent of the shares of the Company’s common stock exercisable
pursuant to the option will vest on the first anniversary of the
date of grant and the remaining seventy-five percent will vest in a
series of thirty-six equal monthly installments.
In addition, Mr. Aguillard was granted restricted stock units
representing the contingent right to receive 90,000 shares of the
Company’s common stock under its 2022 Inducement Plan. The
restricted stock units were approved by DermTech’s Compensation
Committee, effective September 20, 2023, and were granted as
inducements material to Mr. Aguillard’s acceptance of employment
with DermTech in accordance with Nasdaq Listing Rule
5635(c)(4).
The 90,000 restricted stock units shall vest over 4 years as
follows: (i) twenty-five percent of the restricted stock units will
vest on September 20, 2024 and (ii) the remaining seventy-five
percent of the restricted stock units will vest in equal quarterly
installments until fully vested on September 20, 2027, subject to
Mr. Aguillard’s continued employment with the Company on these
vesting dates. The restricted stock units are subject to the terms
and conditions of the 2022 Inducement Plan, and the terms and
conditions of the equity award agreements covering the grants.
About DermTech
DermTech is a leading genomics company in dermatology and is
creating a new category of medicine, precision dermatology, enabled
by its non-invasive skin genomics technology. DermTech’s mission is
to improve the lives of millions by providing non-invasive
precision dermatology solutions that enable individualized care.
DermTech provides genomic analysis of skin samples collected
non-invasively using our Smart StickersTM. DermTech develops and
markets products that facilitate the assessment of melanoma. For
additional information, please visit DermTech.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. The expectations,
estimates, and projections of DermTech may differ from its actual
results and consequently, you should not rely on these
forward-looking statements as predictions of future events. Words
such as “expect,” “estimate,” “project,” “budget,” “forecast,”
"outlook," “anticipate,” “intend,” “plan,” “strive," “may,” “will,”
“could,” “should,” “believe,” “predict,” “potential,” “continue,”
and similar expressions are intended to identify such
forward-looking statements. These forward-looking statements
include, without limitation, expectations and evaluations with
respect to: the performance, patient benefits, cost- effectiveness,
commercialization and adoption of DermTech’s products and the
market opportunity for these products; expectations regarding
DermTech’s potential growth, scale, patient reach, financial
outlook and future financial performance DermTech’s ability to
increase its test volume, revenue and the proportion of reimbursed
billable tests; and expectations regarding agreements with or
reimbursement or cash collection patterns from government payers
(including Medicare) or commercial payers and related billing
practices or number of covered lives. These forward-looking
statements involve significant risks and uncertainties that could
cause the actual results to differ materially from the expected
results. Most of these factors are outside of the control of
DermTech and are difficult to predict. Factors that may cause such
differences include, but are not limited to: (1) the outcome of any
legal proceedings that may be instituted against DermTech; (2)
DermTech’s ability to obtain additional funding to develop and
market its products; (3) the existence of favorable or unfavorable
clinical guidelines for DermTech’s tests; (4) the reimbursement of
DermTech’s tests by government payers (including Medicare) and
commercial payers; (5) the ability of patients or healthcare
providers to obtain coverage of or sufficient reimbursement for
DermTech’s products; (6) DermTech’s ability to grow, manage growth
and retain its key employees and maintain or improve its operating
efficiency and reduce operating expenses; (7) changes in applicable
laws or regulations; (8) the market adoption and demand for
DermTech’s products and services together with the possibility that
DermTech may be adversely affected by other economic, business,
and/or competitive factors; and (9) other risks and uncertainties
included in the “Risk Factors” section of the most recent Annual
Report on Form 10-K filed by DermTech with the Securities and
Exchange Commission (the “SEC”), and other documents filed or to be
filed by DermTech with the SEC, including subsequently filed
reports. DermTech cautions that the foregoing list of factors is
not exclusive. You should not place undue reliance upon any
forward- looking statements, which speak only as of the date made.
DermTech does not undertake or accept any obligation or undertaking
to release publicly any updates or revisions to any forward-looking
statements to reflect any change in its expectations or any change
in events, conditions, or circumstances on which any such statement
is based.
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Steve Kunszabo DermTech (858) 291-1647
steve.kunszabo@dermtech.com
DermTech (NASDAQ:DMTK)
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