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

Rhea-AI Summary

OptiNose, Inc. (NASDAQ:OPTN) announced the grant of non-qualified stock option awards to seven new employees. A total of 60,000 shares were awarded to incentivize employment acceptance. The options were granted outside the company’s 2010 Stock Incentive Plan, adhering to Nasdaq Rule 5635(c)(4). Exercise prices were set at $2.51 and $2.57, corresponding to closing prices on grant dates of August 16 and 23, 2021. These options have a 10-year term and will vest over four years, with 25% vesting after one year and the remaining in monthly installments.

Positive

• Granting of stock options to seven new employees may enhance talent acquisition and retention.
• The exercise prices of the options are set at competitive levels, reflecting recent market valuations.

Negative

• None.

YARDLEY, Pa., Aug. 25, 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 non-qualified stock option awards to purchase an aggregate of 60,000 shares of its common stock to seven 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 (August 16, 2021, and August 23, 2021) with an exercise price equal to the closing price of the company’s common stock as reported by Nasdaq on the grant date ($2.51 and $2.57 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 was announced by OptiNose on August 25, 2021?

OptiNose announced the granting of 60,000 non-qualified stock option awards to seven new employees.

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

The exercise prices for the stock options were $2.51 and $2.57 per share.

What is the vesting period for the stock options awarded by OptiNose?

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

How does the stock option award affect OptiNose employees?

The stock options serve as an incentive for new employees to join and stay with the company.

What is the significance of the stock options granted outside of the 2010 Stock Incentive Plan?

Granting options outside of the existing plan adheres to Nasdaq Listing Rule 5635(c)(4), facilitating flexibility in employee compensation.