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Alphatec Accelerates Organic Innovation Machine With Addition Of Key Senior Leadership And Expansion Of Market
“The new ATEC continues to attract the best and brightest in spine, and I am thrilled to welcome these outstanding individuals to the family,” said
As a recognized leader in the orthopedic/spine industry, Ojeda brings a 25-year track record of successfully leading marketing and product development teams and has successfully commercialized cervical and biologics products and procedural solutions that have collectively generated hundreds of millions in revenue. He joins ATEC following a twelve-year tenure at
Wilson joins ATEC following 15 years in sales and sales management 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. Ojeda, Wilson, and Zabel of, collectively, 125,000 restricted stock units (RSUs) and options to purchase 50,000 shares of the Company’s common stock (“Options”). The grants to Messrs. Wilson and Zabel are dated
The RSUs will vest in equal annual installments on each of the first four anniversaries of the respective dates of employment set forth above. The Options, which have an exercise price of $3.85 and $3.34 per share (based on the closing prices of the Company’s common stock on the respective effective dates of the grants), will vest 25 percent on the first anniversary of the grants and in equal monthly installments of 1/36th of the balance of the Options, provided the recipient remains continuously employed by ATEC as of such vesting date. In addition, the RSUs and Options will fully vest 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 that designs, develops, and markets technology for the treatment of spinal disorders associated with disease and degeneration, congenital deformities and trauma. The Company's mission is to improve lives by providing innovative spine surgery solutions through the relentless pursuit of superior outcomes. The Company markets its products in the U.S. via independent sales agents and a direct sales force.
Alphatec, Alphatec Spine, the Alphatec logo, and SafeOp Surgical are trademarks or registered trademarks of Alphatec Holdings, Inc., its affiliates and/or subsidiary companies. All other marks are the property of their owners.
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.