MOUNTAIN VIEW, Calif., July 19, 2023 (GLOBE NEWSWIRE) -- NeuroPace, Inc. (NASDAQ: NPCE), a commercial-stage medical device company focused on transforming the lives of people living with epilepsy, today announced that it granted to Joel Becker, NeuroPace’s recently-appointed Chief Executive Officer and director, an option to purchase 380,424 shares of NeuroPace’s common stock at an exercise price of $4.39 under its 2023 Inducement Plan. The award was granted as an inducement material to Mr. Becker becoming a new employee of NeuroPace in accordance with The Nasdaq Stock Market Listing Rule 5635(c)(4).

The award will vest over approximately four years, with 25% of the shares subject to the award vesting on July 10, 2024, and the remaining 75% of the shares subject to the award will vest in equal monthly installments over the following 36 months, subject to Mr. Becker’s continuous service with NeuroPace through each such vesting date. The award is subject to the terms and conditions of NeuroPace’s 2023 Inducement Plan and the terms and conditions of a stock option agreement covering the award.

About NeuroPace, Inc.

Based in Mountain View, Calif., NeuroPace is a commercial-stage medical device company focused on transforming the lives of people living with epilepsy by reducing or eliminating the occurrence of debilitating seizures. Its novel and differentiated RNS System is the first and only commercially available, brain-responsive platform that delivers personalized, real-time treatment at the seizure source. This platform can drive a better standard of care for patients living with drug-resistant epilepsy and has the potential to offer a more personalized solution and improved outcomes to the large population of patients suffering from other brain disorders.

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