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

Rhea-AI Summary

Jaguar Health, Inc. (NASDAQ:JAGX) announced the grant of nonstatutory stock options and restricted stock units (RSUs) to two new employees, effective October 25, 2021. New Employee 1 received options for 2,666 shares and 1,333 RSUs, while New Employee 2 received options for 1,583 shares and 791 RSUs, all with an exercise price of $2.02 per share. The options vest over three years, and the RSUs vest equally over the same period. These grants were approved by the Board's Compensation Committee as an incentive for the new hires.

Positive

• New employee grants may lead to improved talent acquisition.
• Inducement grants can enhance team stability and performance.

Negative

• Concerns over employee turnover may arise if the new hires do not meet performance expectations.

SAN FRANCISCO, CA / ACCESSWIRE / October 29, 2021 / Jaguar Health, Inc. (NASDAQ:JAGX) ("Jaguar" or the "Company") announced today that, effective October 25, 2021, the Company granted nonstatutory stock options for the purchase of up to 2,666 shares of the Company's common stock to New Employee 1 and nonstatutory stock options for the purchase of up to 1,583 shares of the Company's common stock to New Employee 2. These nonstatutory stock options have an exercise price of $2.02 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 during which each employee was hired by the Company and, thereafter, 2.78% vesting monthly for the remaining twenty-seven months.

Effective October 25, 2021, the Company also granted 1,333 restricted stock units (RSUs) to New Employee 1 and 791 RSUs to New Employee 2. These RSUs vest equally over three years, with one-third of the shares vesting each year starting from the date on which each employee was hired by the Company.

All RSUs and nonstatutory stock options described above were granted as an inducement material to each 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 each 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 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. Crofelemer is the subject of the OnTarget study, an ongoing pivotal Phase 3 clinical trial for prophylaxis of diarrhea in adult cancer patients receiving targeted therapy. Napo EU S.p.A., the wholly owned Italian subsidiary of Napo Pharmaceuticals, focuses on expanding crofelemer access in Europe.

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 delayed release tablets) 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.

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 stock options were granted to new employees by JAGX?

Jaguar Health granted nonstatutory stock options for 2,666 shares to New Employee 1 and for 1,583 shares to New Employee 2.

What is the exercise price of the stock options granted by Jaguar Health?

The exercise price for the stock options granted is $2.02 per share.

How long is the vesting period for the stock options granted by JAGX?

The stock options vest over a three-year period.

Why were the stock options and RSUs granted to new employees?

The grants were approved as inducement material to each new employee's acceptance of employment with Jaguar Health.