Helius Medical Technologies, Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(C)(4)

Helius Medical Technologies, Inc. (Nasdaq: HSDT) (“Helius” or the “Company”), a neurotech company focused on neurological wellness, today announced that, effective May 23, 2022, its independent directors approved equity awards under Helius’ 2021 Inducement Plan, as a material inducement to four individuals entering into employment with the Company. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4), which also requires a public announcement of equity awards that are not made under a stockholder approved equity plan.

In connection with entering into employment with Helius, the four individuals, who were not previous employees or directors of Helius, received options to purchase an aggregate of 21,000 shares of the Company’s Class A common stock. The option awards have an exercise price of $1.40 per share, the closing price of Helius’ common stock on May 23, 2022, the date of the grant. The options have a ten-year term and vest over a period of four years, with 25% vesting on each of the first, second, third and fourth anniversary of each individual’s hire date, provided the new hire’s employment is continuing on each such date, and subject to acceleration or forfeiture upon the occurrence of certain events as set forth in the new hire’s option agreement.