IRVINE, Calif.--(BUSINESS WIRE)--BIOLASE, Inc. (NASDAQ:BIOL), the global leader in dental lasers, today announced that on March 13, 2017, James D. Surek, the Company’s newly hired Vice President of Sales for the Americas, received options to purchase 400,000 shares of the Company’s common stock with an exercise price of $1.18 per share, the closing price per share on March 13, 2017. As to forty percent of the stock options, one-fourth vest on the one-year anniversary of grant, and the remaining three-fourths vest ratably on a monthly basis over a three-year period, and as to sixty percent of the stock options, based upon certain performance criteria, in all cases subject to Mr. Surek’s continued service with the Company through the applicable vesting dates. The stock options 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. Surek’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 medical device company that develops, manufactures, markets, and sells laser systems in dentistry and medicine and also markets, sells, and distributes dental imaging equipment, including digital x-rays and CAD/CAM scanners. BIOLASE’s products are focused on technologies that advance the practice of dentistry to both dentists and their patients. BIOLASE's proprietary laser products incorporate approximately 230 patented and 85 patent-pending technologies designed to provide biologically clinically superior performance with less pain and faster recovery times. BIOLASE’s 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 approximately 33,600 laser systems to date in over 90 countries around the world. Laser products under development address BIOLASE’s core dental market and other adjacent medical and consumer markets.
For updates and information on Waterlase® iPlus™ and laser dentistry, find BIOLASE online at www.biolase.com, Facebook at www.facebook.com/biolase, Twitter at www.twitter.com/biolaseinc, LinkedIn at www.linkedin.com/company/biolase, Instagram at www.instagram.com/biolaseinc, and YouTube at www.youtube.com/biolasevideos.
BIOLASE® and Waterlase® are registered trademarks of BIOLASE, Inc.