Myovant Sciences Announces New Employment Inducement Grants Under NYSE Rule 303A.08

Rhea-AI Summary

Myovant Sciences (NYSE: MYOV) has approved equity awards for 18 new employees, granting a total of 149,300 restricted stock units (RSUs) as part of its 2020 Inducement Plan. The awards will vest over time, with one-fourth vested on the one-year anniversary of the grant and the remaining shares vesting in quarterly installments, contingent on continued employment. Myovant aims to improve healthcare for men and women through innovative science and advocacy, having achieved multiple regulatory approvals since its founding in 2016.

Positive

• Granting of 149,300 RSUs to support new employee retention and motivation.
• Alignment with NYSE regulations enhances corporate governance.

Negative

• No immediate revenue or growth impact detailed in the press release.

BASEL, Switzerland, Nov. 16, 2022 (GLOBE NEWSWIRE) -- Myovant Sciences (NYSE: MYOV), a biopharmaceutical company that aspires to redefine care for women and for men through purpose-driven science, empowering medicines, and transformative advocacy, today announced that it approved equity awards for 18 new employees with a grant date of November 15, 2022 pursuant to Myovant’s 2020 Inducement Plan. The equity awards were granted to the employees joining Myovant in accordance with NYSE’s Listed Company Manual Rule 303A.08.

The new employees received, in the aggregate, restricted stock units (RSUs) to purchase 149,300 common shares of Myovant. One-fourth of the shares underlying each employee’s RSU will vest on the one-year anniversary of the grant date, with the balance of the common shares vesting in twelve equal quarterly installments thereafter, in each case, subject to each such employee’s continued employment with Myovant on such vesting dates. The RSUs are subject to the terms and conditions of the 2020 Inducement Plan and the applicable RSU agreements.

About Myovant Sciences
Myovant Sciences aspires to redefine care for women and men through purpose-driven science, empowering medicines, and transformative advocacy worldwide. Founded in 2016, Myovant has executed multiple successful Phase 3 clinical trials across hormone-sensitive oncology and women’s health leading to five regulatory approvals in the United States and Europe. Myovant and its partners continue to file for additional indications of its lead products as well as continue further development of pipeline assets. Sumitovant Biopharma Ltd., a wholly owned subsidiary of Sumitomo Pharma Co., Ltd., is Myovant’s majority shareholder. For more information, please visit www.myovant.com.

Myovant Sciences Contacts
Investor Contact:
Uneek Mehra
Chief Financial and Business Officer
Myovant Sciences, Inc.
investors@myovant.com 

Media Contact:
Noelle Cloud Dugan
Vice President, Corporate Communications
Myovant Sciences, Inc.
media@myovant.com 

FAQ

What equity awards were approved by Myovant Sciences on November 15, 2022?

Myovant Sciences approved 149,300 restricted stock units (RSUs) for 18 new employees on November 15, 2022.

How do the RSUs awarded to new employees at Myovant Sciences vest?

The RSUs vest one-fourth on the one-year anniversary of the grant date and the remaining shares vest in twelve equal quarterly installments.

What is the purpose of Myovant's 2020 Inducement Plan?

The 2020 Inducement Plan is designed to attract and retain talented employees through equity awards.

What are the implications of Myovant's equity awards for investors?

The equity awards grant can enhance employee motivation and retention, potentially positively impacting company performance.

Who is the majority shareholder of Myovant Sciences?

Sumitovant Biopharma Ltd., a subsidiary of Sumitomo Pharma Co., Ltd., is Myovant's majority shareholder.