Milestone Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
Milestone Pharmaceuticals (Nasdaq: MIST) has announced the granting of equity awards to three new employees. The awards consist of 113,000 stock options to purchase company common shares, issued under the company's 2021 Inducement Plan. The options were granted on January 2, 2025, with an exercise price of $2.17 per share, matching the closing price of Milestone's shares on the grant date.
The options will vest over four years, with 25% vesting after one year and the remaining balance vesting in 36 equal monthly installments. These awards were granted as inducement material for employment in accordance with Nasdaq Listing Rule 5635(c)(4), specifically designed for new hires who were not previously Milestone employees.
Positive
- Successful attraction of new talent through equity compensation
- Options granted at market price, aligning with shareholder interests
Negative
- Potential future dilution of existing shareholders from 113,000 new options
News Market Reaction 1 Alert
On the day this news was published, MIST gained 1.37%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
MONTREAL and CHARLOTTE, N.C., Jan. 07, 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 113,000 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 three new hires.
The Options have a grant date of January 2, 2025 and an exercise price of
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 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 on January 2, 2025?
What is the exercise price for MIST's January 2025 inducement stock options?
What is the vesting schedule for MIST's January 2025 inducement grants?
Under which plan were MIST's January 2025 inducement grants issued?
