Milestone Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Milestone Pharmaceuticals (Nasdaq: MIST) announced the granting of equity awards to four new employees on March 4, 2025. The compensation package includes 94,000 stock options with an exercise price of $1.65 per share, matching the company's closing share price on March 3, 2025.

The options were granted under the company's 2021 Inducement Plan and will vest over four years, with 25% vesting after one year and the remaining portion vesting in 36 equal monthly installments. These equity awards were approved by the Company's Compensation Committee and Board of Directors as inducement material for new employment, complying with Nasdaq Listing Rule 5635(c)(4).

Positive

• Stock-based compensation aligns new employee interests with shareholders

Negative

• Potential future dilution from 94,000 new stock options

MONTREAL and CHARLOTTE, N.C., March 04, 2025 (GLOBE NEWSWIRE) -- Milestone Pharmaceuticals Inc. (Nasdaq: MIST) (the “Company” or “Milestone”), today announced that the Company granted equity awards, in the form of a total of 94,000 options (the “Options”) to purchase the Company’s common shares, pursuant to the Company’s 2021 Inducement Plan (the “Plan”), previously approved by the Company’s Compensation Committee and the Board of Directors, as a material inducement to employment of four new hires. 

The Options have a grant date of March 3, 2025, and an exercise price of $1.65 per share, which is equal to the closing price of Milestone’s common shares on the grant date. The shares subject to the Options will vest over four years, with 25% of the shares vesting on the one-year anniversary of the vesting commencement date and the balance of the shares vesting in a series of 36 successive equal monthly installments thereafter.

The Option awards are subject to the award holder’s continuous service through each vesting date and to the terms and conditions of the Plan and its standard forms of grant agreements thereunder.

The foregoing equity award was granted as an inducement material to the employee entering into employment with Milestone, in accordance with Nasdaq Listing Rule 5635(c)(4). The Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Milestone, or following a bona fide period of non-employment, as an inducement material to such individual’s entering into employment with Milestone, pursuant to Nasdaq Listing Rule 5635(c)(4).

About Milestone Pharmaceuticals

Milestone Pharmaceuticals Inc. (Nasdaq: MIST) is a biopharmaceutical company developing and commercializing innovative cardiovascular solutions to improve the lives of people living with complex and life-altering heart conditions. The Company’s focus on understanding unmet patient needs and improving the patient experience has led us to develop new treatment approaches that provide patients with an active role in self-managing their care. Milestone's lead investigational product is etripamil, a novel calcium channel blocker nasal spray that is being studied for patients to self-administer without medical supervision to treat symptomatic episodic attacks associated with PSVT and AFib-RVR.

Contact:
Kim Fox, Vice President, Communications
kfox@milestonepharma.com
704-803-9295

FAQ

How many stock options did Milestone Pharmaceuticals (MIST) grant in March 2025?

Milestone Pharmaceuticals granted 94,000 stock options to four new employees on March 3, 2025.

What is the exercise price for MIST's March 2025 stock options grant?

The exercise price is $1.65 per share, equal to Milestone's closing share price on March 3, 2025.

What is the vesting schedule for MIST's March 2025 stock options?

The options vest over 4 years: 25% after one year, followed by 36 monthly installments for the remaining 75%.

Under which plan were MIST's March 2025 stock options granted?

The options were granted under Milestone's 2021 Inducement Plan, in accordance with Nasdaq Rule 5635(c)(4).