Opiant Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Opiant Pharmaceuticals (NASDAQ: OPNT) announced the approval of restricted stock units (RSUs) for 31,500 shares granted to six new employees as part of its 2021 Inducement Equity Incentive Plan. These RSUs will vest over four years, with 25% vesting each year, contingent upon continued employment. This move aims to attract talent in the pharmaceutical sector, particularly in treating addictions and overdose. The company is known for developing NARCAN® Nasal Spray and is focused on expanding its portfolio of addiction treatment medicines.

Positive

• Granting of 31,500 RSUs indicates a commitment to attracting talent.
• Vesting schedule creates long-term incentives for employees.

Negative

• None.

SANTA MONICA, Calif., Dec. 20, 2021 (GLOBE NEWSWIRE) -- Opiant Pharmaceuticals, Inc. (“Opiant” or “Company”) (NASDAQ: OPNT), a specialty pharmaceutical company developing medicines to treat addictions and drug overdose, today announced the Compensation Committee of the Company’s Board of Directors has approved the grant of restricted stock units (“RSU”) covering an aggregate of 31,500 shares of common stock to six hired employees, pursuant to the Company’s 2021 Inducement Equity Incentive Plan (“Inducement Plan”). The RSUs were granted as material inducements to employment in accordance with Nasdaq Listing Rule 5635(c)(4).

Each RSU will vest over a 4-year period, with 25% of the shares vesting on the one-year anniversary of the date of grant, and thereafter an additional 25% of the shares vesting on each succeeding one-year anniversary of the date of grant, subject to such employee’s continued employment with Opiant on such vesting dates. Each RSU is subject to the terms and conditions of the Inducement Plan and the terms and conditions of an RSU agreement covering the grant.

About Opiant Pharmaceuticals, Inc. 
Opiant Pharmaceuticals, Inc., the company that developed NARCAN® Nasal Spray, is building a leading franchise of new medicines to combat addictions and drug overdose. For more information visit: www.opiant.com.

Forward-Looking Statements
This press release contains forward-looking statements, including statements for OPNT003’s potential as an opioid overdose reversal agent. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, implied or inferred by these forward-looking statements, and among other things, our ability to maintain cash balances and successfully commercialize or partner our product candidates currently under development. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “would,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “potential,” or “continue” or the negative of such terms and other comparable terminology. These statements are only predictions based on our current expectations and projections about future events. You should not place undue reliance on these statements. Actual events or results may differ materially. In evaluating these statements, you should specifically consider various factors. Additional factors that could materially affect actual results can be found in our Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission on March 4, 2021, including under the caption titled “Risk Factors.”  These and other factors may cause our actual results to differ materially from any forward-looking statement. We undertake no obligation to update any of the forward-looking statements after the date of this press release to conform those statements to reflect the occurrence of unanticipated events, except as required by applicable law.

For Media and Investor Inquiries:
Ben Atkins, Opiant
(310) 598-5410
batkins@opiant.com

FAQ

What is the significance of Opiant Pharmaceuticals' RSU grant?

The grant of RSUs is significant as it reflects Opiant's strategy to attract and retain skilled employees, enhancing its operational capabilities in combating addictions.

When will the RSUs granted by Opiant Pharmaceuticals vest?

The RSUs will vest over a four-year period, with 25% vesting on each annual anniversary of the grant date.

How many shares of common stock were granted as RSUs by Opiant Pharmaceuticals?

Opiant Pharmaceuticals granted an aggregate of 31,500 shares of common stock as RSUs.

What is the purpose of the 2021 Inducement Equity Incentive Plan?

The 2021 Inducement Equity Incentive Plan is designed to attract new talent by providing equity compensation as a material inducement to employment.

What is Opiant Pharmaceuticals known for?

Opiant Pharmaceuticals is known for developing NARCAN® Nasal Spray and is focused on creating new medications for addiction treatment.