Neuraxis, Inc. (NYSE American: NRXS) has granted stock awards to its three non-employee directors as part of its compensation program, according to a recent 8-K filing with the Securities and Exchange Commission. On Thursday, June 28, 2024, Kristin Ferge, Beth Keyser, and Bradley Mitch Watkins received fully vested shares under the company's 2022 Omnibus Securities and Incentive Plan.
The shares, issued as unrestricted stock awards, are the first to be distributed under the plan following Neuraxis's initial public offering in August 2023. Each director's compensation, valued at $12,500 per quarter for a total of $50,000 annually, is determined by the closing price of Neuraxis stock, which was $2.78 per share on the date of the grant.
The directors' awards are part of a broader strategy to incentivize and compensate the board for their ongoing contributions to the company. The unrestricted stock award agreements, executed on July 1, 2024, outline the terms of the stock grants, with the form of the agreement included as an exhibit in the SEC filing.
This move aligns with Neuraxis's commitment to align the interests of its directors with those of the shareholders and to attract and retain experienced professionals on its board. Neuraxis, incorporated in Delaware and headquartered in Carmel, Indiana, operates in the electromedical and electrotherapeutic apparatus sector under the organization name 03 Life Sciences.
The company's financial and corporate governance details are available in the SEC filing, which provides transparency about the compensatory arrangements for its non-employee directors. This information is based on a press release statement.
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