Alimera Sciences appoints Todd Wood, president, U.S. operations

Alimera Sciences (ALIM) announced the appointment of Todd Wood as President U.S. effective immediately. Wood most recently served as Chief Commercial Officer at Dermtech International (DMTK). The Company also announced that on December 11, 2023, in connection with Mr. Wood’s appointment as President of U.S. Operations, the Compensation Committee of the Board of Directors of the Company approved an inducement option to purchase up to 125,000 shares of common stock to Mr. Wood. The Inducement Option has an exercise price of $3.71 per share, which is equal to the fair market value per share of the Company’s common stock on the Nasdaq Global Market on December 11, 2023, will vest over four years, subject to Mr. Wood’s continued service with the Company on each applicable vesting date, with 25% of the underlying shares vesting on the one-year anniversary of the vesting commencement date, and 75% of the underlying shares vesting in equal monthly installments over the next thirty-six months. The Inducement Option is an inducement material to Mr. Wood entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).