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

Rhea-AI Summary

Marinus Pharmaceuticals, Inc. (Nasdaq: MRNS), a company focused on developing innovative therapeutics for seizure disorders, has announced the grant of inducement awards to a new employee. The Compensation Committee approved non-qualified stock options to purchase 9,800 shares of common stock, with an exercise price of $1.85 per share, equal to the closing price on October 7, 2024.

The stock options will vest as follows:

• 25% of the shares on the one-year anniversary of the employee's start date
• The remaining 75% in 36 equal monthly installments thereafter

These grants were made in accordance with Nasdaq Listing Rule 5635(c)(4) as an inducement for employment and are subject to the terms of the applicable award agreement.

Positive

• Attracting new talent with stock option incentives
• Aligning employee interests with company performance through equity grants

Negative

• Potential dilution of existing shareholders' equity

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 inducement awards to one new employee. The Compensation Committee of the Board of Directors of Marinus approved the grant of non-qualified stock options to purchase an aggregate of 9,800 shares of its common stock (the “Common Stock”) as inducements material to the employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

These stock option grants have an exercise price of $1.85 per share, which is equal to the closing price of the Common Stock on October 7, 2024 (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. These stock options were granted as an inducement material to the employee entering into employment with Marinus in accordance with Nasdaq Listing Rule 5635(c)(4) and are subject to the terms and conditions of the applicable award agreement covering such grant.

About Marinus Pharmaceuticals
Marinus is a commercial-stage pharmaceutical company dedicated to the development of innovative therapeutics for seizure disorders. The Company’s product, ZTALMY^® (ganaxolone) oral suspension CV, is an FDA-approved prescription medication introduced in the U.S. in 2022. For more information about Marinus 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/20241008369889/en/

Investors

Sonya Weigle

Chief People and Investor Relations Officer

Marinus Pharmaceuticals, Inc.

sweigle@marinuspharma.com

Media

Molly Cameron

Director, Corporate Communications and Investor Relations

Marinus Pharmaceuticals, Inc.

mcameron@marinuspharma.com

Source: Marinus Pharmaceuticals

FAQ

How many shares of stock options did Marinus Pharmaceuticals (MRNS) grant to the new employee?

Marinus Pharmaceuticals granted non-qualified stock options to purchase 9,800 shares of its common stock to one new employee.

What is the exercise price of the stock options granted by Marinus Pharmaceuticals (MRNS)?

The exercise price of the stock options is $1.85 per share, which was equal to the closing price of the Common Stock on October 7, 2024.

What is the vesting schedule for the stock options granted by Marinus Pharmaceuticals (MRNS)?

25% of the stock options will vest on the one-year anniversary of the employee's start date, with the remaining 75% vesting in 36 equal monthly installments thereafter.

Under which Nasdaq rule did Marinus Pharmaceuticals (MRNS) grant these inducement awards?

The inducement awards were granted in accordance with Nasdaq Listing Rule 5635(c)(4).