Movano Inc. (Nasdaq: MOVE), a purpose-driven healthcare solutions company at the intersection of medtech and consumer devices, announced the expansion of its senior leadership team with the strategic hire of Chief Marketing Officer (CMO), Tyla Bucher.
Tyla brings over two decades of experience building and launching global integrated consumer marketing campaigns for top-tier brands. In her most recent role as Senior Vice President of Marketing for Hydrow, maker of the leading at-home connected rower, she successfully launched the company’s first full funnel brand campaign, doubling brand awareness and contributing to its impressive revenue growth. Prior to Hydrow, Tyla held various brand strategy and marketing leadership roles at Hasbro, where she oversaw the development of the company’s first direct to consumer channel, as well as led strategic direction of a key $1.5 billion global entertainment brand. Tyla also served as Vice President Brand Marketing at Twentieth Century Fox where she oversaw the execution of strategic business plans across multiple channels on all studio new release titles. Additionally, she spearheaded the division’s rapid expansion into digital distribution, driving new windowing strategies and building tailored cross platform consumer marketing programs, contributing to the record setting success of award-winning studio releases. As Movano’s CMO, Tyla will oversee the Company’s brand, communication and marketing strategies as well as work cross-functionally to develop partnerships and sales strategies.
“Since unveiling plans for our first product, the Movano Ring, we’ve built a tremendous amount of forward momentum and are hyper focused on preparing to bring an attractive, intuitive and intelligent ring to the market this year. As we move closer to productization, we’ve brought Tyla on to drive our vision, mature our brand and lead tactical marketing efforts that will be critical to the launch of the Ring and positioning Movano for revenue generation,” said Dr. John Mastrototaro, CEO of Movano Inc. “Tyla brings a strong female point of view, an unmatched level of creativity and valuable strategic marketing skills to our senior leadership team that we believe will be instrumental in connecting Movano to consumers and partners and bringing our brand to life.”
Movano announced its flagship product, the Movano Ring, in December 2021. Designed for women, the Ring and its accompanying app combine vital health metrics with personalized intelligent feedback. The Ring helps you make connections between cause and effect and understand the correlation between how you feel and various areas of your health, including activity, sleep and more, by measuring heart rate, heart rate variability, sleep, respiration rate, temperature, blood oxygen saturation, steps and calories. Movano plans to add medically validated data to its platform, which caretakers and healthcare professionals can use to help you identify and better manage the symptoms of chronic conditions.
The Movano Ring is expected to be one of the most affordable health devices on the market and will be available through a beta release in the second half of 2022.
In support of Movano’s continued growth plans and as previously disclosed, the Company’s Board of Directors has approved the reservation of 2,000,000 shares of common stock to be used exclusively for the grant of equity awards to individuals who were not previously employees of the Company (or following a bona fide period of non-employment), as an inducement to an individual’s entry into employment with the Company within the meaning of Rule 5635(c)(4) of the NASDAQ Listing Rules.
On April 15, 2022, pursuant to the inducement award plan Movano granted inducement stock option awards covering a total of 295,000 shares of common stock to three new non-executive employees. The stock options were granted on April 15, 2022 at an exercise price of $2.53 per share, which is equal to the closing price of Movano common stock on the date of grant. The stock options vest as follows: one-fourth vests on the first anniversary of the grant date and the balance vests in 36 equal monthly installments thereafter. The awards were approved by a majority of the independent members of the Company’s Board of Directors and were granted as an inducement material to the new employees’ entering into employment with the Company in accordance with NASDAQ Marketplace Rule 5635(c)(4). The Company is making this announcement as required by NASDAQ rules.