NEW YORK--(BUSINESS WIRE)--
Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) (the “Company” or “MindMed”), a late-stage clinical biopharmaceutical company developing novel product candidates to treat brain health disorders, today announced the issuance of inducement grants to three newly hired non-executive employees consisting of options to purchase an aggregate of 121,500 common shares of the Company (the "Options"), with an effective grant date of April 21, 2025. The Options have an exercise price equal to the closing price of MindMed’s common shares on April 18, 2025, the last trading day on which MindMed’s common shares traded prior to the date of the grant, and will vest over a four-year period with 25% vesting on the first anniversary of the grant and the remaining 75% vesting in substantially equal monthly increments over the three-year period thereafter, subject to each employee’s continued employment.
The Options were granted as a material inducement to each employee’s employment and were approved by MindMed's Compensation Committee on April 16, 2025, in accordance with Rule 5635(c)(4) of The NASDAQ Stock Market LLC. The Options were granted outside MindMed's equity incentive plans.
About MindMed
MindMed is a late-stage clinical biopharmaceutical company developing novel product candidates to treat brain health disorders. Our mission is to be the global leader in the development and delivery of treatments that unlock new opportunities to improve patient outcomes. We are developing a pipeline of innovative product candidates, with and without acute perceptual effects, targeting neurotransmitter pathways that play key roles in brain health. MindMed trades on NASDAQ under the symbol MNMD.
What are the vesting terms for MindMed's (MNMD) new employee stock options granted in April 2025?
The options vest over 4 years: 25% after the first year, with the remaining 75% vesting monthly over the next three years, subject to continued employment.
How many common shares are included in MindMed's (MNMD) April 2025 inducement grants?
The inducement grants include options to purchase 121,500 common shares for three new non-executive employees.
When will MindMed's (MNMD) April 2025 inducement grants become effective?
The inducement grants will become effective on April 21, 2025, with an exercise price set at the closing price of MindMed's shares on April 18, 2025.
What is the purpose of MindMed's (MNMD) April 2025 inducement grants?
The grants serve as material inducement for employment of three new non-executive employees, issued outside MindMed's regular equity incentive plans.
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