|[July 14, 2014]
BIOLASE Announces Inducement Grant under NASDAQ Listing Rule 5635(c)(4)
IRVINE, Calif. --(Business Wire)--
BIOLASE, Inc. (NASDAQ:BIOL), the world's leading manufacturer and
distributor of dental lasers, today announced that on July 13, 2014,
Jeffrey M. Nugent, the Company's Acting Chief Executive Officer,
received options to purchase 172,282 shares of the Company's common
stock with an exercise price of $1.98 per share, the closing price per
share on July 10, 2014. In addition, Mr. Nugent received an award of
restricted stock units ("RSUs") with respect to 37,879 shares of the
Company's common stock. One-sixth of the stock options and the RSUs vest
immediately, with the remaining five-sixths vesting ratably on a monthly
basis over a twelve-month period ending on July 13, 2015, subject to Mr.
Nugent's continued service with the Company through the applicable
The stock options and the RSUs are subject to accelerated vesting upon a
change of control, and in connection with certain qualifying
terminations of service as specified in Mr. Nugent's award agreements.
The stock options and RSUs were granted outside of the Company's
stockholder-approved equity incentive plan and were approved by the
Compensation Committee of the Board of Directors, which is comprised of
independent directors, as an inducement material to Mr. Nugent's
entering into employment with the Company, and in reliance on NASDAQ
Listing Rule 5635(c)(4), which requires this public announcement.
About BIOLASE, Inc.
BIOLASE, Inc. is a biomedical company that develops, manufactures, and
markets innovative lasers in dentistry and medicine and also markets and
distributes high-end 2D and 3D digital imaging
equipment, CAD/CAM intraoral scanners, and in-office milling
machines and 3D printers; products that are focused on technologies that
advance the practice of dntistry and medicine.
The Company's proprietary laser products incorporate approximately 300
patented and patent-pending technologies designed to provide
biologically clinically superior performance with less pain and faster
recovery times. Its innovative products provide cutting-edge technology
at competitive prices to deliver the best results for dentists and
patients. BIOLASE's principal products
are revolutionary dental laser systems that perform a broad range of
dental procedures, including cosmetic and complex surgical applications,
and a full line of dental imaging equipment. BIOLASE has sold more than
25,000 laser systems. Other laser products under development address
ophthalmology and other medical and consumer markets.
For updates and information on WaterLase and laser dentistry, find
BIOLASE online at www.biolase.com,
Facebook (News - Alert) at www.facebook.com/biolase,
Twitter (News - Alert) at www.twitter.com/biolaseinc,
Pinterest at www.pinterest.com/biolase,
LinkedIn (News - Alert) at www.linkedin.com/company/biolase,
Google (News - Alert)+ at www.google.com/+BIOLASEIrvine,
Instagram at www.instagram.com/biolaseinc,
and YouTube (News - Alert) at www.youtube.com/biolasevideos.
BIOLASE® and WaterLase® are registered trademarks
of BIOLASE, Inc.
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