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

Rhea-AI Summary

Jaguar Health (NASDAQ:JAGX) granted 60,000 restricted stock units (RSUs) to New Employee 1 and 12,500 RSUs to New Employee 2 as an inducement for their employment effective June 27, 2022. The RSUs for New Employee 1 will vest fully after one year, while those for New Employee 2 will vest equally over three years. This initiative was approved by the Compensation Committee and is contingent on the employees' continued service with Jaguar. The company focuses on developing sustainable, plant-based medicines for gastrointestinal distress.

Positive

• New employee inducement RSUs could strengthen team dynamics and attract talent.
• The structured vesting schedule aligns employee interests with company performance.

Negative

• Inducement grants may raise concerns about compensation expenditures impacting financial stability.

SAN FRANCISCO, CA / ACCESSWIRE / July 1, 2022 / Jaguar Health, Inc. (NASDAQ:JAGX) ("Jaguar" or the "Company") today announced that, effective June 27, 2022, the Company granted 60,000 restricted stock units (RSUs) to New Employee 1 and 12,500 RSUs to New Employee 2.

The RSUs for New Employee 1 vest in full on the one-year anniversary of New Employee 1's date of hire by the Company. The RSUs for New Employee 2 vest equally over three years, with one-third of the shares vesting each year starting from the date on which New Employee 2 was hired by the Company.

The RSUs for New Employee 1 and New Employee 2 were granted as an inducement material to each new 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 employee's continued service with Jaguar through the applicable vesting dates.

About Jaguar Health, Jaguar Animal Health, Napo Pharmaceuticals, & Napo Therapeutics

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, including chronic, debilitating diarrhea. Jaguar Animal Health is a tradename of Jaguar Health. Jaguar Health's wholly owned subsidiary, Napo Pharmaceuticals, Inc., focuses on developing and commercializing proprietary plant-based human pharmaceuticals from plants harvested responsibly from rainforest areas. Our crofelemer drug product candidate 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. Jaguar Health is the majority shareholder of Napo Therapeutics S.p.A. (f/k/a Napo EU S.p.A.), an Italian corporation established by Jaguar Health in Milan, Italy in 2021 that focuses on expanding crofelemer access in Europe.

For more information about Jaguar Health, please visit https://jaguar.health. For more information about Napo Pharmaceuticals, visit www.napopharma.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 are the details of the RSU grants for new employees at Jaguar Health (JAGX)?

Jaguar Health granted 60,000 RSUs to New Employee 1 and 12,500 RSUs to New Employee 2 as inducements for employment, effective June 27, 2022.

When do the RSUs for new employees at Jaguar Health vest?

The RSUs for New Employee 1 vest in full after one year, while New Employee 2's RSUs vest over three years, with one-third vesting each year.

What is the purpose of the RSUs granted to new employees of Jaguar Health?

The RSUs were granted as an inducement material to each new employee's acceptance of employment.

Who approved the RSU grants at Jaguar Health (JAGX)?

The RSU grants were approved by the Compensation Committee of Jaguar's Board.