Teladoc Health completed its acquisition of InTouch Health on July 1, 2020. Pursuant to the terms of the agreement as announced on January 12, 2020, the purchase price consists of approximately $150 million in cash and 4.6 million shares of Teladoc Health common stock.
Notice of Inducement Equity Awards
In connection with the acquisition of InTouch Health, and effective as of the closing date, Teladoc Health granted to 352 employees of InTouch Health restricted stock unit awards covering an aggregate of 46,669 shares of Teladoc Health common stock. These awards include grants to Mr. Joseph DeVivo and Dr. Yulun Wang of restricted stock unit awards covering 3,772 and 5,028 shares of Teladoc Health common stock, respectively. Dr. Wang received an award of 2,514 restricted stock units that vest based on continued service to Teladoc Health over the three years following the date of grant, with a prorated portion vesting earlier if his employment terminates, under certain conditions, within the 18 months following the closing date, and an award of 2,514 restricted stock units that vest in a single installment (subject to his continued employment) on the date that is 18 months following the closing date. All other restricted stock unit awards are scheduled to vest based on continued service to Teladoc Health over two to three years following the date of grant.
Numed, a well established company in business since 1975 provides a wide range of service options including time & material service, PM only contracts, full service contracts, labor only contracts & system relocation. Call 800 96 Numed for more info.
Additionally, in connection with the acquisition of InTouch Health, and effective as of the closing date, Teladoc Health granted to Mr. Joseph DeVivo a stock option award covering an aggregate 9,227 shares of Teladoc Health common stock, which has an exercise price of $198.85 per share. The stock option award will vest as to 33% of the award on the first anniversary of the date of grant, and, as to the remainder of the award, in 24 equal monthly installments thereafter, subject to continued service to Teladoc Health.
The stock option and restricted stock unit awards were approved by the Compensation Committee of the Board of Directors of Teladoc Health and were granted under the Teladoc Health, Inc. 2017 Employment Inducement Incentive Award Plan as employment inducement awards pursuant to NYSE rules.
For more information, visit www.teladochealth.com
About Teladoc Health
Teladoc Health is transforming how people access and experience healthcare. Recognized as the world leader in virtual care, Teladoc Health directly delivers millions of medical visits across 175 countries each year through the Teladoc Health Medical Group and enables millions of patient and provider touchpoints for thousands of hospitals, health systems and physician practices globally. Ranked #1 among direct-to-consumer telehealth providers in the J.D. Power 2019 U.S. Telehealth Satisfaction Study and Best in KLAS for Virtual Care Platforms for 2020, Teladoc Health leverages more than a decade of expertise and real-time insights to meet the growing virtual care needs of consumers, healthcare professionals, employers and health plans. For more information, please visit www.teladochealth.com or follow @TeladocHealth on Twitter.Back to HCB News