4/A: Neuronetics CEO Keith Sullivan Corrects Stock Unit Vesting Details in Amended SEC Filing

Keith Sullivan, CEO of Neuronetics, files an amended SEC Form 4 to correct the vesting dates and threshold achievement percentage of a performance restricted stock unit award.

Summary

• Neuronetics CEO Keith Sullivan filed an amended SEC Form 4/A on March 13, 2025, to correct information regarding a performance restricted stock unit (PRSU) award granted on February 24, 2025.
• The original filing on February 26, 2025, incorrectly stated the vesting dates as December 31, 2027, 2026, and 2027; the corrected vesting dates are December 31, 2025, 2026, and 2027.
• The original filing also incorrectly stated the threshold achievement for the year-end cash balance as 80% of the target for each vesting year; the correct threshold is 90%.
• The PRSU award is for 187,500 shares of common stock and is subject to the satisfaction of applicable performance metrics and continuous service of the reporting person.
• The number of shares reflected assumes the maximum potential vest in each vesting year.

Sentiment

Score: 7

Explanation: The document is a routine correction of an SEC filing, indicating standard corporate governance practices. The correction itself doesn't suggest any underlying issues with the company's performance or outlook.

Negatives

• The original SEC filing contained incorrect information regarding the vesting dates and threshold achievement of the PRSU award.

Industry Context

This filing is a routine disclosure related to executive compensation and is specific to Neuronetics. It doesn't provide broad insights into the neuromodulation industry.

Stakeholder Impact

• The correction of the vesting schedule and threshold achievement may have a minor impact on shareholder perception of executive compensation.

Key Dates