Ocugen Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Ocugen announced on Sept. 16, 2022, that its Compensation Committee approved stock options and restricted stock units (RSUs) for five new hires, totaling 148,800 shares in stock options and 40,092 shares in RSUs. The options, granted at an exercise price of $2.17, have a ten-year term and vest over three years. This grant aligns with Nasdaq Listing Rule 5635(c)(4) as a material inducement for employment. Ocugen focuses on novel gene and cell therapies and vaccines, aiming to improve health and address unmet medical needs.
- Granting of stock options and RSUs may enhance employee motivation and retention.
- The stock options have a long ten-year term, suggesting a long-term commitment to team members.
- Issuing stock options can lead to potential dilution of existing shareholders' equity.
MALVERN, Pa., Sept. 16, 2022 (GLOBE NEWSWIRE) -- Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies and vaccines, today announced the Compensation Committee of the Board of Directors of Ocugen approved the grant of stock options to purchase an aggregate of 148,800 shares of its common stock and restricted stock units (RSUs) covering an aggregate of 40,092 shares of common stock to five newly hired team members. The stock options and RSUs were granted as of September 16, 2022, as material inducements to employment in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock options have a ten-year term and have an exercise price of
About Ocugen, Inc.
Ocugen, Inc. is a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies and vaccines that improve health and offer hope for patients across the globe. We are making an impact on patient’s lives through courageous innovation—forging new scientific paths that harness our unique intellectual and human capital. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with a single product, and we are advancing research in infectious diseases to support public health and orthopedic diseases to address unmet medical needs. Discover more at www.ocugen.com and follow us on Twitter and LinkedIn.
Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from our current expectations. These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission (SEC), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events, or otherwise, after the date of this press release.
Contact:
Tiffany Hamilton
Head of Communications
IR@ocugen.com
FAQ
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