Sonendo, Inc. (NYSE: SONX), a leading dental technology company and developer of the GentleWave System, announced that on September 25, 2023, the Compensation Committee of Sonendo’s Board of Directors granted restricted stock unit awards covering an aggregate of 14,000 shares of its common stock to two new, non-executive employees to induce them to join the company.
The awards were granted under Sonendo’s 2023 Employment Inducement Incentive Award Plan (the “Inducement Plan”), which was adopted on March 2, 2023 and provides for the granting of equity awards to prospective employees of Sonendo under NYSE Listing Rule 303A.08.
The restricted stock unit awards vest over a four-year period, with twenty five percent of the shares underlying each award vesting on the anniversary of the award’s vesting commencement date, September 25, 2023, and six and one-quarter percent of the shares underlying each award vesting quarterly thereafter, subject to continued service. The restricted stock units are subject to the terms and conditions of the Inducement Award Plan.
Sonendo is a commercial-stage medical technology company focused on saving teeth from tooth decay, the most prevalent chronic disease globally. Sonendo develops and manufactures the GentleWave® System, an innovative technology platform designed to treat tooth decay by cleaning and disinfecting the microscopic spaces within teeth without the need to remove tooth structure. The system utilizes a proprietary mechanism of action, which combines procedure fluid optimization, broad-spectrum acoustic energy and advanced fluid dynamics, to debride and disinfect deep regions of the complex root canal system in a less invasive procedure that preserves tooth structure.
The clinical benefits of the GentleWave System when compared to conventional methods of root canal therapy include improved clinical outcomes, such as superior cleaning that is independent of root canal complexity and tooth anatomy, high and rapid rates of healing and minimal to no post-operative pain. In addition, the GentleWave System can improve the workflow and economics of dental practices. Sonendo is also the parent company of TDO Software, the developer of widely used endodontic practice management software solutions, designed to simplify practice workflow.
TDO Software integrates practice management, imaging, referral reporting and CBCT imaging, and offers built-in communication with the GentleWave System.