EyePoint Pharmaceuticals Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

On June 15, 2022, EyePoint Pharmaceuticals (NASDAQ: EYPT) granted stock options to nine new employees as part of their inducement awards outside the 2016 Long-Term Incentive Plan, aligning with NASDAQ Listing Rule 5635(c)(4). The total granted options amounted to 55,500 shares, with an exercise price of $7.93 per share, equal to the stock's closing price on the grant date. The options have a ten-year validity and vest over four years, contingent upon continued service with the company.

Positive

• Inducement awards could enhance employee retention and motivation.
• Granting stock options aligns employee interests with shareholder value.

Negative

• Potential dilution of shares due to stock options granted.

WATERTOWN, Mass., June 16, 2022 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT), a pharmaceutical company committed to developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders, today announced that the Company granted non-statutory stock options to new employees as inducement awards outside the Company’s 2016 Long-Term Incentive Plan in accordance with NASDAQ Listing Rule 5635(c)(4).

The Company granted stock options to purchase up to an aggregate of 55,500 shares of EyePoint Pharmaceuticals common stock to nine new employees. The stock options were granted on June 15, 2022. The grants were approved by the Compensation Committee and made as an inducement material to each employee entering into employment with EyePoint Pharmaceuticals in accordance with NASDAQ Listing Rule 5635(c)(4). The option awards have an exercise price of $7.93 per share, the closing price of EyePoint Pharmaceuticals’ common stock on June 15, 2022. The options have a ten-year term and vest over four years, with 25% of the original number of shares vesting on the first anniversary of the applicable employee’s date of grant and the remainder vesting in equal monthly installments over the following three years. Vesting of the options is subject to the employee’s continued service with EyePoint Pharmaceuticals through the applicable vesting dates.

About EyePoint Pharmaceuticals

EyePoint Pharmaceuticals (Nasdaq: EYPT) is a pharmaceutical company committed to developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders. The Company's pipeline leverages its proprietary Durasert^® technology for sustained intraocular drug delivery including EYP-1901, an investigational sustained delivery intravitreal anti-VEGF treatment initially targeting wet age-related macular degeneration. The proven Durasert drug delivery platform has been safely administered to thousands of patients' eyes across four U.S. FDA approved products, including YUTIQ^® for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye, which is currently marketed by the Company. EyePoint Pharmaceuticals is headquartered in Watertown, Massachusetts.

For EyePoint Pharmaceuticals:

Investors:
Christina Tartaglia
Stern IR
Direct: 212-698-8700
christina.tartaglia@sternir.com

Media Contact:
Amy Phillips
Green Room Communications
Direct: 412-327-9499
aphillips@greenroompr.com

FAQ

What was the stock option grant date for EyePoint Pharmaceuticals?

EyePoint Pharmaceuticals granted stock options on June 15, 2022.

How many shares were granted as stock options by EyePoint Pharmaceuticals?

EyePoint Pharmaceuticals granted stock options to purchase up to 55,500 shares.

What is the exercise price for the stock options granted by EyePoint Pharmaceuticals?

The exercise price for the stock options is $7.93 per share.

What is the vesting schedule for the stock options granted by EyePoint Pharmaceuticals?

The stock options vest over four years, with 25% vesting on the first anniversary and the remainder vesting monthly over the next three years.

What are the implications of the stock options grant for EyePoint's shareholders?

The grant of stock options may lead to potential shareholder dilution.