Optinose Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

OptiNose (NASDAQ:OPTN) announced the grant of non-qualified stock options to six new employees as an employment inducement. A total of 53,500 shares were awarded, with exercise prices reflecting the stock's closing prices on their respective grant dates ($2.64 and $1.59). The options, which have a 10-year term, will vest over four years, with 25% vesting on the first anniversary of the grant date. This move aligns with Nasdaq Listing Rule 5635(c)(4) and aims to enhance employee retention and incentivize performance.

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• Granting stock options may enhance employee retention and incentivize performance.

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• None.

YARDLEY, Pa., Nov. 18, 2021 (GLOBE NEWSWIRE) -- OptiNose, Inc. (NASDAQ:OPTN), a pharmaceutical company focused on patients treated by ear, nose and throat (ENT) and allergy specialists, today announced that the company has granted a non-qualified stock option awards to purchase an aggregate of 53,500 shares of its common stock to six new employees as an inducement material for accepting employment with OptiNose. The stock option awards were granted outside of the OptiNose, Inc. 2010 Stock Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock options were granted to the new employees on their respective hire dates (November 8, 2021, and November 16, 2021) with an exercise price equal to the closing price of the company’s common stock as reported by Nasdaq on the grant date ($2.64 and $1.59 per share, respectively).

The stock options have a 10-year term and vest over four years, with one-fourth of the shares underlying the stock option vesting on the first anniversary of the grant date and the remainder vesting in thirty-six equal monthly installments thereafter. Vesting of the stock options is subject to continued service with the company through the applicable vesting date.

About Optinose
Optinose is a specialty pharmaceutical company focused on serving the needs of patients cared for by ear, nose and throat (ENT) and allergy specialists. To learn more, please visit www.optinose.com or follow us on Twitter and LinkedIn.

Optinose Investor Contact
Jonathan Neely
jonathan.neely@optinose.com
267.521.0531

FAQ

What recent stock option grants has OptiNose made?

OptiNose granted non-qualified stock options to six new employees, totaling 53,500 shares.

What are the exercise prices for the stock options granted by OptiNose?

The exercise prices were $2.64 and $1.59 per share, based on the stock's closing prices on the grant dates.

How long is the term for the stock options awarded by OptiNose?

The stock options have a 10-year term.

When will the stock options granted by OptiNose vest?

The options will vest over four years, with 25% vesting on the first anniversary and the remainder in monthly installments.

What is the purpose of granting stock options at OptiNose?

The stock options were granted as an inducement for the new employees and to align with Nasdaq regulations.