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

Rhea-AI Summary

Myovant Sciences (NYSE: MYOV) has granted equity awards to 46 new employees on December 15, 2020, under its 2020 Inducement Plan, aligning with NYSE guidelines. The awards include a total of 126,800 restricted stock units (RSUs). The RSUs will vest over four years, with 25% vesting after one year and the remainder in quarterly installments, contingent on continued employment. Myovant is focused on innovative treatments for women's and men's health, including relugolix, currently under review for advanced prostate cancer and uterine fibroids.

Positive

• Equity awards granted to 46 new employees could enhance workforce motivation and retention.
• The total of 126,800 RSUs indicates a commitment to rewarding new talent, fostering long-term growth.

Negative

• None.

BASEL, Switzerland, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Myovant Sciences (NYSE: MYOV), a healthcare company focused on redefining care for women and for men, today announced that it approved equity awards for 46 new employees with a grant date of December 15, 2020 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 126,800 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 restricted stock unit agreements.

About Myovant Sciences
Myovant Sciences aspires to redefine care for women and for men through purpose-driven science, empowering medicines, and transformative advocacy. Our lead product candidate, relugolix, is a once-daily, oral GnRH receptor antagonist. Relugolix monotherapy tablet (120 mg) is under regulatory review in the U.S. for men with advanced prostate cancer. Relugolix combination tablet (relugolix 40 mg, estradiol 1.0 mg, and norethindrone acetate 0.5 mg) is under regulatory review in Europe and the U.S. for women with uterine fibroids and is under development for women with endometriosis. We are also developing MVT-602, an oligopeptide kisspeptin-1 receptor agonist, which has completed a Phase 2a study for female infertility as part of assisted reproduction. Sumitovant Biopharma, Ltd., a wholly owned subsidiary of Sumitomo Dainippon Pharma Co., Ltd., is our majority shareholder. For more information, please visit our website at www.myovant.com. Follow @Myovant on Twitter and LinkedIn.

Investor Contact:
Ryan Crowe
Vice President, Investor Relations
Myovant Sciences, Inc.
investors@myovant.com

Media Contact:
Albert Liao
Director, Corporate Communications
Myovant Sciences, Inc.
media@myovant.com

FAQ

What equity awards were approved by Myovant Sciences?

Myovant Sciences approved equity awards of 126,800 restricted stock units (RSUs) for 46 new employees on December 15, 2020.

What is the vesting schedule for the equity awards at Myovant?

The RSUs will vest 25% on the one-year anniversary of the grant date, with the remaining shares vesting in twelve equal quarterly installments.

What is Myovant Sciences focused on?

Myovant Sciences focuses on developing innovative treatments for women's and men's health, including the lead product candidate relugolix.

Which product candidates is Myovant Sciences working on?

Myovant's lead product candidate, relugolix, is under regulatory review for advanced prostate cancer and uterine fibroids.