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

Rhea-AI Summary

Myovant Sciences (NYSE: MYOV) announced the approval of equity awards for 7 new employees, granting a total of 30,000 restricted stock units (RSUs) effective February 16, 2021. The RSUs will vest incrementally, with 25% vesting on the one-year anniversary and the remainder vesting quarterly based on continued employment. This offering aligns with Myovant's 2020 Inducement Plan and adheres to NYSE regulations. The company focuses on innovative treatments for men's and women's health, including its FDA-approved drug ORGOVYX™ for advanced prostate cancer.

Positive

• Equity awards granted to 7 new employees, which may enhance workforce competency.
• Total of 30,000 RSUs issued, indicating company growth and commitment to incentivizing talent.

Negative

• None.

BASEL, Switzerland, Feb. 17, 2021 (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 7 new employees with a grant date of February 16, 2021 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 30,000 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. We have one FDA-approved medicine, ORGOVYX™ (relugolix), for adult patients with advanced prostate cancer. Our lead product candidate, 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.
+1 (650) 781-9106
investors@myovant.com 

Media Contact:
Albert Liao 
Director, Corporate Communications
Myovant Sciences, Inc.
+1 (650) 410-3055
media@myovant.com 

FAQ

What new employee equity awards were announced by Myovant Sciences on February 17, 2021?

Myovant Sciences announced equity awards for 7 new employees, totaling 30,000 restricted stock units (RSUs) effective February 16, 2021.

What is the vesting schedule for the RSUs granted by Myovant Sciences?

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 the purpose of the equity awards announced by Myovant Sciences?

The equity awards are part of Myovant’s 2020 Inducement Plan, aimed at attracting and retaining talent.

Which stock symbol is associated with Myovant Sciences?

The stock symbol for Myovant Sciences is MYOV.