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

Rhea-AI Summary

Opiant Pharmaceuticals, Inc. (NASDAQ: OPNT) announced the grant of 25,900 restricted stock units (RSUs) to seven new employees as part of its 2022 Inducement Equity Incentive Plan. The RSUs serve as material inducements for employment, in accordance with Nasdaq Listing Rule 5635(c)(4). Each RSU will vest over four years, with the first 25% vesting on the one-year anniversary of the grant date. Opiant, known for developing NARCAN^® Nasal Spray, focuses on creating medicines to combat addictions and drug overdoses.

Positive

• Grant of 25,900 RSUs indicates commitment to attract talent.
• RSUs vesting over four years suggests long-term investment in employee retention.

Negative

• None.

SANTA MONICA, Calif., June 28, 2022 (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 and Human Capital Committee of the Company’s Board of Directors has approved the grant of restricted stock units (“RSU”) covering an aggregate of 25,900 shares of common stock to seven hired employees, pursuant to the Company’s 2022 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 four-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. 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 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, completion of the NDA filing in the second half of 2022. 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, 2021 and our Form 10-Q for the quarter ended March 31,2022, filed with the Securities and Exchange Commission on March 4, 2022 and May 10, 2022, respectively, 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 does Opiant Pharmaceuticals do?

Opiant Pharmaceuticals specializes in developing medicines for addictions and drug overdoses.

What is the purpose of the restricted stock units (RSUs) issued by OPNT?

The RSUs are issued as material inducements for employment under the 2022 Inducement Equity Incentive Plan.

When will the RSUs granted by Opiant Pharmaceuticals vest?

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