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

Rhea-AI Summary

Optinose (NASDAQ:OPTN) announced the granting of a non-qualified stock option for 15,000 shares to a new employee as an inducement for employment. The stock options were approved by the company’s Compensation Committee and granted outside of the 2010 Stock Incentive Plan, following Nasdaq Rule 5635(c)(4). The options have an exercise price of $4.12, based on the closing price on January 19, 2021, and will vest over four years, contingent on continued employment.

Positive

• Granting stock options may enhance employee retention and alignment with company goals.
• Stock options awarded at a competitive market exercise price of $4.12.

Negative

• None.

YARDLEY, Pa., Jan. 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 a non-qualified stock option award to purchase 15,000 shares of its common stock to one new employee as an inducement material for accepting employment with OptiNose. The stock option award was approved by the Compensation Committee of the company’s Board of Directors and was granted outside of the OptiNose, Inc. 2010 Stock Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4)

The stock option award was granted on the employee’s first day of employment, January 18, 2021 and has a per share exercise price equal to $4.12, the closing price per share of Optinose common stock, as reported by Nasdaq, on January 19, 2021 (The Nasdaq Stock Market was closed on January 18, 2021 in observance of the federal holiday). 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 is the stock option grant by Optinose on January 18, 2021?

Optinose granted a non-qualified stock option award to purchase 15,000 shares to a new employee, effective on January 18, 2021.

What is the exercise price of the stock options granted by Optinose?

The exercise price of the stock options is $4.12, based on the closing price on January 19, 2021.

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

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

What conditions are associated with the vesting of Optinose's stock options?

Vesting of the stock options is subject to continued service with the company through the applicable vesting dates.