REDWOOD CITY, Calif., Dec. 03, 2025 (GLOBE NEWSWIRE) — Pulmonx Corporation (Nasdaq: LUNG) (the “Company” or “Pulmonx”), a global leader in minimally invasive treatments for lung disease, today announced that on December 1, 2025 (the “Grant Date”), Pulmonx granted equity awards under its 2025 Inducement Plan (the “Inducement Plan”) for an aggregate of 1,625,000 shares of Pulmonx’s common stock to two individuals hired by Pulmonx in the fourth quarter of 2025, including Pulmonx’s Chief Financial Officer and Chief Operating Officer, Derrick Sung. The awards were approved by the Compensation Committee of the Company’s Board of Directors and were granted as an inducement material to the new employees entering into employment with Pulmonx, in accordance with Nasdaq Listing Rule 5635(c)(4). Each award is subject to the terms and conditions of the Inducement Plan and the grant agreements covering the awards.
The employees received, in the aggregate, 1,225,000 restricted stock units (“RSUs”), with Mr. Sung’s grant accounting for 1,200,000 of the total granted RSUs. In each case, one-fourth of the RSUs will vest on the one-year anniversary of the Grant Date, with the remainder vesting in equal quarterly installments over the subsequent three-year period, subject to such employee’s continuous employment on each vesting date.
In addition to his RSU grant, Mr. Sung also received a performance stock unit (“PSUs”) award for up to 400,000 shares of the Company’s common stock issued pursuant to the Inducement Plan. Mr. Sung’s PSUs will be subject to two vesting conditions: (i) a time-based condition, pursuant to which 33% of the PSUs will vest on the one-year anniversary of the Grant Date, with the remainder vesting in equal quarterly installments over the subsequent two-year period, subject to Mr. Sung’s continuous employment on each vesting date; and (ii) a performance vesting condition, pursuant to which the average closing price of a share of the Company’s common stock over a period of sixty (60) consecutive trading days will have achieved a specified price target. Only upon the satisfaction of both the time-based condition and the performance condition will the related portion of the PSUs vest.
The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees or directors of Pulmonx, or following a bona fide period of non-employment, as an inducement material to such individuals’ entering into employment with Pulmonx, pursuant to Nasdaq Listing Rule 5635(c)(4). The Inducement Plan was adopted by the Company’s Board of Directors in November 2025.
About Pulmonx Corporation
Pulmonx Corporation (Nasdaq: LUNG) is a global leader in minimally invasive treatments for chronic obstructive pulmonary disease (COPD). Pulmonx’s Zephyr® Endobronchial Valve, Chartis® Pulmonary Assessment System and StratX® Lung Analysis Platform are designed to assess and treat patients with severe emphysema/COPD who despite medical management are still profoundly symptomatic. Pulmonx received FDA pre-market approval to commercialize the Zephyr Valve following its designation as a “breakthrough device.” The Zephyr Valve is commercially available in more than 25 countries, is included in global treatment guidelines and is widely considered a standard of care treatment option for improving breathing, activity and quality of life in patients with severe emphysema. For more information on the Zephyr Valves and the company, please visit http://www.pulmonx.com.
Pulmonx®, Chartis®, StratX®, and Zephyr® are registered trademarks of Pulmonx Corporation
Investor Contact
Brian Johnston
Laine Morgan
Gilmartin Group
investors@pulmonx.com
