Ocular Therapeutix® Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
04 Juin 2024 - 10:05PM
Ocular Therapeutix, Inc. (NASDAQ:OCUL) (“Ocular”), a
biopharmaceutical company committed to enhancing people’s vision
and quality of life through the development and commercialization
of innovative therapies for wet age-related macular degeneration
(wet AMD), diabetic retinopathy, and other diseases and conditions
of the eye, today announced that it has agreed to grant inducement
awards to (i) its newly appointed Chief Medical Officer, Nadia K.
Waheed, MD, MPH, and (ii) six other newly hired employees. The
awards were made as inducements material to each individual’s
acceptance of employment with Ocular under Ocular’s 2019 Inducement
Stock Incentive Plan in accordance with Nasdaq Listing Rule
5635(c)(4).
Dr. Waheed’s inducement awards were granted effective as of June
1, 2024. Dr. Waheed’s inducement awards consist of (i) a
non-statutory stock option to purchase up to 425,000 shares of the
Ocular’s common stock at a per share exercise price equal to the
closing price of Ocular’s common stock on The Nasdaq Global Market
on May 31, 2024, and (ii) a restricted stock unit award
representing the right to receive 141,666 shares of Ocular’s common
stock. The stock option has a ten-year term and is scheduled to
vest over four years, with 25% of the original number of shares
vesting on the one-year anniversary of the recipient’s employment
commencement date and the remainder vesting in equal monthly
installments over the three years thereafter, subject to Dr.
Waheed’s continued service to Ocular through the applicable vesting
dates. The restricted stock unit award is scheduled to vest over
three years, in equal annual installments, beginning on the
recipient’s employment commencement date and subject to her
continued service to Ocular through the applicable vesting
dates.
The inducement equity awards to the six other newly hired
employees were granted effective as of June 3, 2024 and consist of
(i) non-statutory stock options to purchase up to an aggregate of
36,000 shares of the Ocular’s common stock at a per share exercise
price equal to the closing price of Ocular’s common stock on The
Nasdaq Global Market on the effective date of grant and (ii)
restricted stock unit awards representing the right to receive an
aggregate of 12,001 shares of Ocular’s common stock. Each stock
option has a ten-year term and is scheduled to vest over four
years, with 25% of the original number of shares vesting on the
one-year anniversary of the recipient’s employment commencement
date and the remainder vesting in equal monthly installments over
the three years thereafter, subject to such individual’s continued
service to Ocular through the applicable vesting dates. Each
restricted stock unit award is scheduled to vest over three years,
in equal annual installments, beginning on June 3, 2024, and
subject to the recipient’s continued service to Ocular through the
applicable vesting dates.
The inducement equity awards are subject to the terms and
conditions of the award agreements covering the grants and Ocular’s
2019 Inducement Stock Incentive Plan.
About Ocular
Therapeutix, Inc.
Ocular Therapeutix, Inc. is a biopharmaceutical company
committed to enhancing people’s vision and quality of life through
the development and commercialization of innovative therapies for
wet age-related macular degeneration (wet AMD), diabetic
retinopathy (DR), and other diseases and conditions of the eye.
AXPAXLI™ (axitinib intravitreal implant, also known as OTX-TKI),
Ocular’s product candidate for retinal disease, is based on its
ELUTYX™ proprietary bioresorbable hydrogel-based formulation
technology. AXPAXLI is currently in a Phase 3 clinical trial for
wet AMD. The clinical portfolio also includes PAXTRAVA™ (travoprost
intracameral implant, also known as OTX-TIC), currently in a Phase
2 clinical trial for the treatment of open-angle glaucoma or ocular
hypertension.
Ocular’s expertise in the formulation,
development and commercialization of innovative therapies of the
eye and the ELUTYX platform supported the development and launch of
its first commercial drug product, DEXTENZA®, an FDA-approved
corticosteroid for the treatment of ocular inflammation and pain
following ophthalmic surgery and ocular itching associated with
allergic conjunctivitis. ELUTYX is also the foundation for two
other clinical-stage assets, OTX-CSI (cyclosporine intracanalicular
insert) for the chronic treatment of dry eye disease and OTX-DED
(dexamethasone intracanalicular insert) for the short-term
treatment of the signs and symptoms of dry eye disease, as well as
several preclinical programs.
Follow the Company on its website, LinkedIn or X.
DEXTENZA® and Ocular Therapeutix® are registered trademarks
of Ocular Therapeutix, Inc. AXPAXLI™, PAXTRAVA™, and
ELUTYX™ are trademarks of Ocular Therapeutix, Inc.
Investors & MediaOcular Therapeutix,
Inc.Bill SlatteryVice President, Investor
Relationsbslattery@ocutx.com
Ocular Therapeutix (NASDAQ:OCUL)
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