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

Rhea-AI Summary

Opiant Pharmaceuticals (NASDAQ: OPNT) announced that its Compensation Committee approved the grant of 31,500 restricted stock units (RSUs) to six new employees. This grant is part of the 2021 Inducement Equity Incentive Plan and serves as an inducement to employment, complying with Nasdaq Listing Rule 5635(c)(4). The RSUs will vest over four years, with 25% vesting annually, contingent upon continued employment. Opiant is known for developing medicines for addictions and drug overdoses, including the NARCAN® Nasal Spray.

Positive

• Grant of 31,500 RSUs to incentivize six new employees.
• Compliance with Nasdaq Listing Rule 5635(c)(4) enhancing corporate governance.

Negative

• None.

SANTA MONICA, Calif., Jan. 20, 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 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 the RSU grant for Opiant Pharmaceuticals (OPNT)?

The RSU grant aims to attract talent and incentivize employees, which can enhance company performance.

How do the RSUs issued by Opiant Pharmaceuticals vest?

The RSUs vest over four years, with 25% vesting each year, contingent on continued employment.

What is Opiant Pharmaceuticals known for?

Opiant is known for developing medicines aimed at treating addictions and drug overdoses, including NARCAN® Nasal Spray.

What regulatory compliance does Opiant's RSU grant adhere to?

The RSU grant complies with Nasdaq Listing Rule 5635(c)(4), ensuring proper corporate governance.