Jaguar Health Announces New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Jaguar Health (NASDAQ:JAGX) announced the grant of nonstatutory stock options and restricted stock units (RSUs) to two new employees effective July 15, 2021. Each employee received options for up to 8,000 shares at an exercise price of $1.41 per share, vested over three years. Additionally, 4,000 RSUs were granted to each employee, vesting equally over the same period. These grants were approved by the Compensation Committee as an inducement for employment, contingent on continued service with the company.

Positive

• The grant of stock options and RSUs may attract and retain talent, strengthening the workforce.
• The exercise price of $1.41 per share aligns with the closing stock price, indicating strategic financial planning.

Negative

• No immediate financial metrics or performance impacts were disclosed, raising concerns about transparency.

SAN FRANCISCO, CA / ACCESSWIRE / July 23, 2021 / Jaguar Health, Inc. (NASDAQ:JAGX) ('Jaguar' or the 'Company') announced today that effective July 15, 2021, the Company granted nonstatutory stock options for the purchase of up to 8,000 shares of the Company's common stock to New Employee 1 and nonstatutory stock options for the purchase of up to 8,000 shares of the Company's common stock to New Employee 2. These nonstatutory stock options have an exercise price of $1.41 per share, representing the closing price of Jaguar's common stock as reported by Nasdaq on the grant date. These nonstatutory stock options have a ten-year term and vest over three years, with 25% of the shares vesting nine months from the last day of the month of the employee's date of hire and, thereafter, 2.78% vesting monthly for the remaining twenty-seven months.

Effective July 15, 2021, the Company also granted 4,000 restricted stock units (RSUs) to New Employee 1 and 4,000 RSUs to New Employee 2. These RSUs vest equally over three years, with one-third of the shares vesting each year starting from the employee's date of hire.

All RSUs and nonstatutory stock options described above were granted as an inducement material to the new employee's acceptance of employment with the Company and were approved by the Compensation Committee of the Board. Vesting of the nonstatutory stock options and RSUs is subject to the employee's continued service with Jaguar through the applicable vesting dates.

About Jaguar Health, Inc., Napo Pharmaceuticals, Inc. & Napo EU S.p.A.

Jaguar Health, Inc. is a commercial stage pharmaceuticals company focused on developing novel, plant-based, non-opioid, and sustainably derived prescription medicines for people and animals with GI distress, specifically chronic, debilitating diarrhea. Our wholly owned subsidiary, Napo Pharmaceuticals, Inc., focuses on developing and commercializing proprietary plant-based human gastrointestinal pharmaceuticals from plants harvested responsibly from rainforest areas. Our Mytesi^® (crofelemer) product is approved by the U.S. FDA for the symptomatic relief of noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy and the only oral plant-based prescription medicine approved under FDA Botanical Guidance. Napo Pharmaceuticals' wholly owned Italian subsidiary, Napo EU S.p.A., focuses on expanding crofelemer access in Europe and is the named target of Dragon SPAC S.p.A.

For more information about Jaguar, please visit https://jaguar.health. For more information about Napo Pharmaceuticals, visit www.napopharma.com. For more information about Napo EU, visit www.napoeu.com.

About Mytesi^®

Mytesi^® (crofelemer) is an antidiarrheal indicated for the symptomatic relief of noninfectious diarrhea in adult patients with HIV/AIDS on antiretroviral therapy (ART). Mytesi^® is not indicated for the treatment of infectious diarrhea. Rule out infectious etiologies of diarrhea before starting Mytesi^®. If infectious etiologies are not considered, there is a risk that patients with infectious etiologies will not receive the appropriate therapy and their disease may worsen. In clinical studies, the most common adverse reactions occurring at a rate greater than placebo were upper respiratory tract infection (5.7%), bronchitis (3.9%), cough (3.5%), flatulence (3.1%), and increased bilirubin (3.1%).

More information and complete Prescribing Information are available at Mytesi.com. Crofelemer, the active ingredient in Mytesi^®, is a botanical (plant-based) drug extracted and purified from the red bark sap of the medicinal Croton lechleri tree in the Amazon Rainforest. Napo has established a sustainable harvesting program for crofelemer to ensure a high degree of quality and ecological integrity.

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.

CONTACT:
Peter Hodge
Jaguar Health, Inc.
phodge@jaguar.health
Jaguar-JAGX

SOURCE: Jaguar Health, Inc.

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FAQ

What employee stock options were granted by Jaguar Health on July 15, 2021?

Jaguar Health granted nonstatutory stock options for up to 8,000 shares to each of two new employees, with an exercise price of $1.41 per share.

What are the vesting terms for the stock options and RSUs at Jaguar Health?

The stock options vest over three years, with 25% vesting after nine months, and RSUs vest equally over three years.

How might the new employee inducement grants impact Jaguar Health's stock?

These grants may improve employee retention and performance, potentially positively affecting stock performance in the long term.

What is the significance of the exercise price set for the stock options at Jaguar Health?

The exercise price of $1.41 reflects the closing stock price on the grant date, suggesting careful alignment with market conditions.