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

Rhea-AI Summary

Anika Therapeutics, Inc. granted 2,500 non-statutory stock options to a newly hired non-executive employee at an exercise price of $25.14 per share, aligning with the market closing price on the grant date. The options will vest over three years, contingent on the grantee's continuous service, and will expire on the tenth anniversary of the grant date.

BEDFORD, Mass., March 08, 2024 (GLOBE NEWSWIRE) -- Anika Therapeutics, Inc. (NASDAQ: ANIK), a global joint preservation company in early intervention orthopedics, today announced that on March 1, 2024, Anika granted non-statutory stock options (“Options”) covering an aggregate of 2,500 shares of common stock at a per share exercise price of $25.14, which equaled the closing price of common stock on the Nasdaq Global Select Market (“Closing Price”) on the grant date, to one newly hired non-executive employee. The grant was made pursuant to the Anika Therapeutics, Inc. 2021 Inducement Plan, as amended, was approved by the compensation committee of the board of directors pursuant to a delegation of authority by the board of directors, and, in accordance with Nasdaq Listing Rule 5635(c)(4), was made as a material inducement to the grantee’s acceptance of employment with Anika as a component of the grantee’s employment compensation.

Of the shares covered by the Options, one-third will vest on each of the first three anniversaries of the grant date, in each case for so long as the grantee provides continuous service to Anika through the relevant vesting date.

Unless earlier terminated in accordance with their terms, the Options will expire on the tenth anniversary of the grant date and are otherwise subject to the terms and conditions of the equity award agreement approved by Anika. The Options were granted pursuant to the Anika Therapeutics, Inc. 2021 Inducement Plan, as amended, which was not subject to stockholder approval.

About Anika
Anika Therapeutics, Inc. (NASDAQ: ANIK), ), is a global joint preservation company that creates and delivers meaningful advancements in early intervention orthopedic care. Leveraging our core expertise in hyaluronic acid and implant solutions, we partner with clinicians to provide minimally invasive products that restore active living for people around the world. Our focus is on high opportunity spaces within orthopedics, including Osteoarthritis Pain Management, Regenerative Solutions, Sports Medicine and Arthrosurface Joint Solutions, and our products are efficiently delivered in key sites of care, including ambulatory surgery centers. Anika’s global operations are headquartered outside of Boston, Massachusetts. For more information about Anika, please visit www.anika.com.

ANIKA, ANIKA THERAPEUTICS and the Anika logo are registered trademarks of Anika Therapeutics, Inc.

For Investor Inquiries:
Anika Therapeutics, Inc.
Mark Namaroff, 781-457-9287
Vice President, Investor Relations, ESG and Corporate Communications
investorrelations@anika.com

FAQ

How many shares of common stock were covered by the Options granted by Anika Therapeutics, Inc.?

Anika Therapeutics, Inc. granted non-statutory stock options covering an aggregate of 2,500 shares of common stock.

What is the exercise price per share for the Options granted by Anika Therapeutics, Inc.?

The exercise price per share for the Options granted by Anika Therapeutics, Inc. is $25.14, matching the closing price of common stock on the grant date.

How long will it take for the Options to vest?

One-third of the shares covered by the Options will vest on each of the first three anniversaries of the grant date, contingent on the grantee's continuous service.

When will the Options expire?

The Options granted by Anika Therapeutics, Inc. will expire on the tenth anniversary of the grant date.

Was the grant of Options made as an inducement to the grantee's acceptance of employment with Anika Therapeutics, Inc.?

Yes, the grant of Options was made as a material inducement to the grantee's acceptance of employment with Anika Therapeutics, Inc.