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

Rhea-AI Summary

Optinose (NASDAQ: OPTN) announced the granting of non-qualified stock option awards for 35,000 shares of common stock to two new employees. These awards were approved by the Compensation Committee and adhere to Nasdaq Listing Rule 5635(c)(4). The exercise prices for the options are $4.56 and $4.34, reflecting the respective closing prices on the grant dates of December 7 and December 14, 2020. The options have a 10-year term and vest over four years, contingent upon continued service with the company.

Positive

• Granting of 35,000 stock options to new employees may improve employee retention and morale.
• The stock option exercise prices reflect a strategic approach aligned with recent market valuations.

Negative

• No immediate cash influx from the options granted, as they are contingent on employee tenure.
• Stock option grants may dilute existing shareholders' equity over time.

YARDLEY, Pa., Dec. 21, 2020 (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 35,000 shares of its common stock to two new employees as an inducement material to them accepting employment with OptiNose. The stock option awards were approved by the Compensation Committee of the company’s Board of Directors and are being 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 (December 7, 2020 and December 14, 2020) with an exercise price equal to the closing price of the company’s common stock as reported by Nasdaq on the grant date ($4.56 and $4.34 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 global 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 stock option awards were granted by Optinose?

Optinose granted non-qualified stock option awards to purchase an aggregate of 35,000 shares to two new employees.

What is the exercise price for the stock options granted by OPTN?

The exercise prices for the stock options are $4.56 and $4.34 per share.

How long is the term for the stock options granted by Optinose?

The stock options have a 10-year term and vest over four years.

What conditions apply to the vesting of the stock options at Optinose?

Vesting is subject to continued service with the company through the applicable vesting date.