NEW YORK, March 16, 2021 (GLOBE NEWSWIRE) — LifeMD, Inc. (NASDAQ: LFMD), a leading direct-to-patient telehealth company, announced that the Compensation Committee of the Company’s Board of Directors granted an equity award to a new employee with a grant date of March 15, 2021, as an equity inducement award outside of the Company’s 2020 Equity and Incentive Plan (but under the terms of the 2020 Equity and Incentive Plan) and material to the employee’s acceptance of employment with the company. The equity award was approved on March 15, 2021, in accordance with Nasdaq Listing Rule 5635(c)(4).
The employee received options to purchase an aggregate of 90,000 shares of LifeMD, Inc. common stock. The options have an exercise price of $19.61, which is equal to the closing price of LifeMD common stock on March 15, 2021, the grant date of the award. The options will vest ratably each month over a 36-month period that commences on the date of grant, subject to the employee’s continued employment with LifeMD on such vesting dates. The options have a five-year term.
LifeMD, Inc. (formerly Conversion Labs) is a leading telehealth company that is transforming the healthcare landscape with direct-to-patient product and service offerings. LifeMD’s telemedicine platform enables virtual access to affordable and convenient medical treatment from licensed providers and, when appropriate, prescription medications and over-the-counter products delivered directly to the patient’s home. To learn more, go to LifeMD.com.
Marc Benathen, CFO
Media and Investor Relations Contact
Ron Both or Grant Stude
CMA Investor Relations
Tel (949) 432-7566