SANTA BARBARA, Calif., Nov. 01, 2016 (GLOBE NEWSWIRE) -- Sientra, Inc. (NASDAQ:SIEN) (“Sientra”), a medical aesthetics company, today announced that it has granted a nonstatutory stock option under its Inducement Plan for 300,000 shares of Sientra common stock to Patrick F. Williams, Sientra’s new Chief Financial Officer, Senior Vice President, and Treasurer pursuant to the terms of his employment agreement with Sientra. This award was approved by the Compensation Committee of Sientra’s board of directors and was granted as an inducement material to Mr. Williams’ entering into employment with Sientra, pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules.
Mr. Williams’ stock option was granted effective October 26, 2016 and has a ten year term and an exercise price equal to $7.93 per share, which was the closing trading price of Sientra’s common stock on the NASDAQ Global Select Market on the date of grant. Such stock option vests, as to 200,000 shares subject to the option, over the course of four years with 25% of the shares subject to the option vesting on the one-year anniversary of the grant date and 75% of the shares subject to the option vesting in 36 equal monthly installments thereafter, and as to 100,000 shares subject to the option, in accordance with performance criteria established by the Compensation Committee. Vesting is subject to Mr. Williams’ continued service relationship with Sientra on each vesting date.
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.
Investor Contacts: Patrick F. Williams Sientra, Chief Financial Officer (619) 675-1047 firstname.lastname@example.org Nick Laudico / Brian Johnston The Ruth Group (646) 536-7030 / (646) 536-7028 IR@Sientra.com