Jaguar Health Announces New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
Jaguar Health (NASDAQ:JAGX) has announced new employee inducement grants under Nasdaq Listing Rule 5635(c)(4). Effective October 7, 2024, the company granted restricted stock units (RSUs) to five new employees. New Employee 1 received 80,000 RSUs, which will vest equally over three years, with one-third of the shares vesting each year from the date of hire. New Employees 2-5 each received 15,000 RSUs, which will vest over one year from their respective hire dates.
These RSU grants were approved by Jaguar's Compensation Committee as an inducement for the employees to accept employment with the company. The vesting of the RSUs is contingent on each new employee's continued service with Jaguar through the applicable vesting dates.
Positive
- Attraction of new talent through employee inducement grants
- Alignment of employee interests with company performance through RSU grants
Negative
- Potential dilution of existing shareholders due to new RSU issuances
News Market Reaction – JAGX
On the day this news was published, JAGX gained 0.80%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN FRANCISCO, CA / ACCESSWIRE / October 11, 2024 / Jaguar Health, Inc. (NASDAQ:JAGX) ("Jaguar" or the "Company") today announced that, effective October 7, 2024, the Company granted 80,000 restricted stock units (RSUs) to New Employee 1 and 15,000 RSUs to each of four other new employees ("New Employees 2-5").
The RSUs for New Employee 1 vest equally over three years, with one-third of the shares vesting each year starting from New Employee 1's date of hire. The RSUs for New Employees 2-5 vest over one year starting from each employee's date of hire.
The RSUs for all five new employees were granted as an inducement material to each employee's acceptance of employment by the Company and were approved by the Compensation Committee of Jaguar's Board. Vesting of the RSUs is subject to each new employee's continued service with Jaguar through the applicable vesting dates.
About the Jaguar Health Family of Companies
Jaguar Health, Inc. (Jaguar) is a commercial stage pharmaceuticals company focused on developing novel proprietary prescription medicines sustainably derived from plants from rainforest areas for people and animals with gastrointestinal distress, specifically associated with overactive bowel, which includes symptoms such as chronic debilitating diarrhea, urgency, bowel incontinence, and cramping pain. Jaguar family company Napo Pharmaceuticals (Napo) focuses on developing and commercializing human prescription pharmaceuticals for essential supportive care and management of neglected gastrointestinal symptoms across multiple complicated disease states. Napo's crofelemer is FDA-approved under the brand name Mytesi® for the symptomatic relief of noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy. Jaguar family company Napo Therapeutics is an Italian corporation Jaguar established in Milan, Italy in 2021 focused on expanding crofelemer access in Europe and specifically for orphan and/or rare diseases. Jaguar Animal Health is a Jaguar tradename. Magdalena Biosciences, a joint venture formed by Jaguar and Filament Health Corp. that emerged from Jaguar's Entheogen Therapeutics Initiative (ETI), is focused on developing novel prescription medicines derived from plants for mental health indications.
For more information about:
Jaguar Health, visit https://jaguar.health
Napo Pharmaceuticals, visit www.napopharma.com
Napo Therapeutics, visit napotherapeutics.com
Magdalena Biosciences, visit magdalenabiosciences.com
Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements." In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "aim," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or the negative of these terms or other similar expressions. The forward-looking statements in this release are only predictions. Jaguar has based these forward-looking statements largely on its current expectations and projections about future events. These forward-looking statements speak only as of the date of this release and are subject to a number of risks, uncertainties and assumptions, some of which cannot be predicted or quantified and some of which are beyond Jaguar's control. Except as required by applicable law, Jaguar does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.
Source: Jaguar Health, Inc.
Contact:
Jaguar-JAGX
SOURCE: Jaguar Health, Inc.
View the original press release on accesswire.com
FAQ
How many RSUs did Jaguar Health (JAGX) grant to its new employees on October 7, 2024?
What is the vesting schedule for the RSUs granted by Jaguar Health (JAGX) to its new employees?
Under which Nasdaq rule did Jaguar Health (JAGX) grant these employee inducement RSUs?
Who approved the RSU grants for Jaguar Health's (JAGX) new employees?
