Alphatec Accelerates Organic Innovation Machine™ With Key Senior Leadership Appointment and Continued Sales Team Enhancements
• Wyatt Stanfield to Drive Western US Sales Expansion
“We continue to attract spine’s most prolific talent, and I couldn’t be more excited to welcome these proven high performers to the family,” said
Having successfully commercialized products and procedural solutions that currently generate more than
Stanfield joins ATEC following 12 years of escalating sales leadership responsibilities with
“I am thrilled to welcome Wyatt to the ATEC sales leadership team,” said
Day joins ATEC following 12 years in spine sales and sales leadership roles with
Inducement Awards Granted
As an inducement to accepting employment with the Company, and in accordance with applicable Nasdaq listing requirements, the Compensation Committee of the Board of Directors has approved aggregate grants to Messrs. Dasso, Stanfield and Day of, collectively, 250,000 restricted stock units (RSUs) and options to purchase 25,000 shares of the Company’s common stock (“Options”). The grants to Messrs. Dasso, Stanfield and Day are dated
The RSUs will vest in equal annual installments on each of the first four anniversaries of the respective dates of employment. The Options, which have an exercise price of $5.18 per share (based on the closing price of the Company’s common stock on the effective date of the grant), will vest 25 percent on the first anniversary of the grant and in equal monthly installments of 1/36th of the balance of the Options, provided the recipient remains continuously employed by ATEC as of each vesting date. In addition, the RSUs and Options will vest fully upon a change in control of ATEC.
ATEC is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).
About Alphatec Holdings, Inc.
Alphatec Holdings, Inc., through its wholly-owned subsidiaries, Alphatec Spine, Inc. and SafeOp Surgical, Inc., is a medical device company dedicated to revolutionizing the approach to spine surgery. ATEC designs, develops and markets spinal fusion technology products and solutions for the treatment of spinal disorders associated with disease and degeneration, congenital deformities and trauma. The Company markets its products in the U.S. via independent sales agents and a direct sales force.
Additional information can be found at www.atecspine.com.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. Such statements are based on management's current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The Company cautions investors that there can be no assurance that actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors. A list and description of these and other factors, risks and uncertainties can be found in the Company's most recent annual report, and any subsequent quarterly and current reports, filed with the Securities and Exchange Commission. ATEC disclaims any intention or obligation to update or revise any forward-looking statements, whether as the result of new information, future events, or otherwise, unless required by law.
Chief Financial Officer
Alphatec Holdings, Inc.
Source: Alphatec Holdings, Inc.