Medexus Reports All Medexus Non-Executive Directors Choose RSUs in Lieu of Cash Fees
Medexus Pharmaceuticals has announced that all non-executive directors will receive restricted share units (RSUs) instead of cash fees for 2021. This decision aligns with the Company’s 2018 omnibus equity incentive plan. The RSUs will vest immediately, allowing directors to acquire common shares at $0.01 each. Medexus focuses on developing innovative products for rare diseases, particularly in auto-immune diseases and hematology, with notable products like Rasuvo™ and IXINITY®. The Company's strategic move to offer RSUs may enhance alignment with shareholder interests.
- All non-executive directors opting for RSUs may improve alignment with shareholder interests.
- RSUs vest immediately, providing quick equity incentives for directors.
- None.
TORONTO, CHICAGO and MONTREAL, March 31, 2021 (GLOBE NEWSWIRE) -- Medexus Pharmaceuticals Inc. (the “Company” or “Medexus”) (TSXV: MDP) (OTCQX: MEDXF) (Frankfurt: P731) is pleased to report that the Company’s non-executive directors were permitted to make a one-time, irrevocable election, to receive restricted share units (“RSUs”) in lieu of cash director fees for the 2021 calendar year and all non-executive directors have made such election.
The RSUs will be issued in accordance with the Company’s 2018 omnibus equity incentive plan and on the first day following each quarter-end, with the number of RSUs determined by reference to the cash fees that would otherwise be payable to the applicable director, and the volume-weighted average trading price of the Company’s common shares. The RSUs will vest immediately and entitle the applicable holder to receive one common share of the Company at a price of
About Medexus Pharmaceuticals Inc.
Medexus is a leading innovative and rare disease company with a strong North American commercial platform. From a foundation of proven best in class products we are building a highly differentiated company with a portfolio of innovative and high value orphan and rare disease products that will underpin our growth for the next decade. The Company’s vision is to provide the best healthcare products to healthcare professionals and patients, through our core values of Quality, Innovation, Customer Service and Teamwork. Medexus Pharmaceuticals is focused on the therapeutic areas of auto-immune disease, hematology, and allergy. The Company’s leading products are: Rasuvo™ and Metoject®, a unique formulation of methotrexate (auto-pen and pre-filled syringe) designed to treat rheumatoid arthritis and other auto-immune diseases; IXINITY®, an intravenous recombinant factor IX therapeutic for use in patients 12 years of age or older with Hemophilia B – a hereditary bleeding disorder characterized by a deficiency of clotting factor IX in the blood, which is necessary to control bleeding; and Rupall®, an innovative prescription allergy medication with a unique mode of action.
For more information, please contact:
Ken d’Entremont, Chief Executive Officer
Medexus Pharmaceuticals Inc.
Tel.: 905-676-0003
E-mail: ken.dentremont@medexus.com
Roland Boivin, Chief Financial Officer
Medexus Pharmaceuticals Inc.
Tel.: 514-344-8765
E-mail: roland.boivin@medexus.com
Investor Relations (U.S.):
Crescendo Communications, LLC
Tel: +1-212-671-1020
Email: mdp@crescendo-ir.com
Investor Relations (Canada):
Tina Byers
Adelaide Capital
Tel: 905-330-3275
E-mail: tina@adcap.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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