Alimera Sciences Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Alimera Sciences announced inducement awards under Nasdaq Listing Rule 5635(c)(4) linked to the recruitment of five non-executive employees. Approved on May 22, 2024, the awards grant options to purchase 64,000 shares of common stock at $3.00 per share. These options will vest over four years, with 25% vesting after one year and the remaining 75% vesting in equal monthly installments over the next 36 months. The awards are part of Alimera's 2024 Equity Inducement Plan and are designed to attract new talent.

Positive

• Alimera is actively recruiting by offering inducement awards, indicating growth and expansion.
• The inducement awards could potentially align employee interests with shareholder interests, leading to increased productivity and long-term company growth.
• Stock options are granted at $3.00 per share, which is the current market price, reflecting fair value.

Negative

• The issuance of 64,000 new shares may dilute existing shareholders' equity.
• The vesting period of four years may not immediately impact company performance or stock price.
• The reliance on stock options may not be sufficiently enticing if the stock price does not appreciate.

ATLANTA, June 04, 2024 (GLOBE NEWSWIRE) -- Alimera Sciences, Inc. (Nasdaq: ALIM) (“Alimera” or the “Company”), a global pharmaceutical company whose mission is to be invaluable to patients, physicians, and partners concerned with retinal health, and maintaining better vision longer, today announced that, pursuant to Nasdaq Listing Rule 5635(c)(4) and in connection with the appointments of five non-executive employees, the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”) approved, on May 22, 2024 (the “Grant Date”), inducement awards consisting of stock options under the Alimera Sciences, Inc. 2024 Equity Inducement Plan to persons who were not previously employees or who rejoined the Company following a bona fide period of non-employment, as an inducement material to each such new or re-hired employee’s employment (collectively, the “Inducement Awards”).

The Inducement Awards grant the recipients the right to purchase, in the aggregate, 64,000 shares of common stock of the Company at an exercise price of $3.00 per share, representing the closing price of a share of the Company’s common stock on the Nasdaq Global Market on the Grant Date.

The Inducement Awards will vest over four years, with 25% of the award vesting on the one-year anniversary of the employment commencement date and 75% of the award vesting in equal installments over the following thirty-six (36) months, subject to continued employment with the Company through each applicable vesting date.

Each Inducement Award was awarded as an inducement material to the employee’s commencement of employment in accordance with Nasdaq Listing Rule 5635(c)(4) and is subject to the terms and conditions of the Alimera Sciences, Inc. 2024 Equity Inducement Plan and the grant agreement evidencing the award.

About Alimera Sciences, Inc.

Alimera Sciences is a global pharmaceutical company whose mission is to be invaluable to patients, physicians and partners concerned with retinal health and maintaining better vision longer. For more information, please visit www.alimerasciences.com.

For investor inquiries:	For media inquiries:
Scott Gordon	Jules Abraham
for Alimera Sciences	for Alimera Sciences
scottg@coreir.com	julesa@coreir.com

FAQ

What are the details of the inducement awards announced by Alimera Sciences?

Alimera Sciences announced inducement awards for five non-executive employees, granting options to purchase 64,000 shares at $3.00 per share, vesting over four years.

When were the inducement awards by Alimera Sciences approved?

The inducement awards were approved on May 22, 2024.

Why did Alimera Sciences issue inducement awards?

The inducement awards were issued to attract and retain new non-executive employees as part of the 2024 Equity Inducement Plan.

How will the inducement awards affect Alimera Sciences' stock?

The inducement awards may lead to stock dilution but also align employee interests with long-term shareholder value.

What is the exercise price for the Alimera Sciences inducement awards?

The exercise price for the inducement awards is $3.00 per share.

How long is the vesting period for Alimera Sciences inducement awards?

The vesting period for the inducement awards is four years, with 25% vesting after one year and the remaining 75% vesting in equal monthly installments over the following 36 months.