Marinus Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(C)(4)

Rhea-AI Summary

Marinus Pharmaceuticals, Inc. (MRNS) announced the grant of a non-qualified stock option to a new employee, totaling 13,800 shares at an exercise price of $7.93. This option is aimed to incentivize new hires under Nasdaq Rule 5635(c)(4). The stock options are set to vest 25% on the first anniversary of employment and 75% in equal monthly installments over the subsequent three years. Marinus focuses on developing therapies for seizure disorders, with its lead product, Ganaxolone, targeting a broad patient population.

Positive

• Grant of stock options may attract skilled talent to the company.
• The exercise price aligns with the market value, indicating potential for employee benefit.

Negative

• None.

RADNOR, Pa.--(BUSINESS WIRE)-- Marinus Pharmaceuticals, Inc. (Nasdaq: MRNS), a pharmaceutical company dedicated to the development of innovative therapeutics to treat seizure disorders, today announced the grant of an inducement award to one new employee. The Compensation Committee of the Board of Directors of Marinus approved the grant of a non-qualified stock option to purchase an aggregate of 13,800 shares of its common stock (the “Common Stock”) as inducement material to the employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

This stock option grant has an exercise price of $7.93 per share, which is equal to the closing price of the Common Stock on April 12, 2022 (date of grant for such stock options). All of the stock options will vest and become exercisable as to 25% of the underlying shares on the one-year anniversary of the applicable employee’s start date of employment, and will vest and become exercisable as to the remaining 75% of the underlying shares of Common Stock in 36 equal monthly installments thereafter on each monthly anniversary, subject to the applicable employee’s continued employment with Marinus on such vesting dates. The stock option was granted as inducement material to the employee entering into employment with Marinus in accordance with Nasdaq Listing Rule 5635(c)(4), and is subject to the terms and conditions of the applicable award agreement covering such grant.

About Marinus Pharmaceuticals

Marinus Pharmaceuticals, Inc. is a pharmaceutical company dedicated to the development of innovative therapeutics to treat seizure disorders. Ganaxolone is a positive allosteric modulator of GABA_A receptors that acts on a well-characterized target in the brain known to have anti-seizure, antidepressant and anti-anxiety effects. Ganaxolone is being developed in IV and oral dose formulations intended to maximize therapeutic reach to adult and pediatric patient populations in both acute and chronic care settings. For more information visit www.marinuspharma.com.

Forward-Looking Statements

To the extent that statements contained in this press release are not descriptions of historical facts regarding Marinus, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “may”, “will”, “expect”, “anticipate”, “estimate”, “intend”, “believe”, and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements in this press release involve substantial risks and uncertainties that could cause our clinical development programs, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Marinus undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company in general, see filings Marinus has made with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220418005446/en/

Sasha Damouni Ellis

Vice President, Corporate Affairs & Investor Relations

Marinus Pharmaceuticals, Inc.

484-253-6792

sdamouni@marinuspharma.com

Source: Marinus Pharmaceuticals

FAQ

What is the recent news about Marinus Pharmaceuticals (MRNS)?

Marinus Pharmaceuticals announced a stock option grant of 13,800 shares to a new employee, with an exercise price set at $7.93 per share.

When will the stock options for MRNS vest?

The stock options for Marinus Pharmaceuticals will vest 25% on the one-year anniversary of employment and 75% in equal monthly installments over the next three years.

What is the purpose of the stock option grant by MRNS?

The stock option grant is intended as inducement material to attract and retain new employees in accordance with Nasdaq Listing Rule 5635(c)(4).

What does the exercise price of $7.93 for MRNS stock options signify?

The exercise price of $7.93 for the stock options is equal to the closing price of Marinus' common stock on April 12, 2022.

What is Ganaxolone developed by Marinus Pharmaceuticals (MRNS)?

Ganaxolone is a positive allosteric modulator of GABAA receptors, aimed at treating seizure disorders and related conditions.