Oyster Point Pharma Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Oyster Point Pharma, a commercial-stage biopharmaceutical company, has granted inducement non-qualified stock options to purchase 242,600 shares of common stock to 36 new employees. This action aligns with the Nasdaq Listing Rule 5635(c)(4). The stock options have exercise prices between $6.25 and $12.44 per share and will vest over four years, with a quarter vesting after the first year. Oyster Point Pharma focuses on developing therapies for ophthalmic diseases and has received FDA approval for its first prescription treatment.

Positive

• Granting of 242,600 stock options indicates company growth and investment in talent.
• Vesting schedule supports employee retention and aligns interests with shareholders.

Negative

• None.

PRINCETON, N.J., Sept. 07, 2022 (GLOBE NEWSWIRE) -- Oyster Point Pharma, Inc., (Nasdaq: OYST), (“Oyster Point Pharma”, or “the Company”), a commercial-stage biopharmaceutical company focused on the discovery, development and commercialization of first-in-class pharmaceutical therapies to treat ophthalmic diseases, today announced that the Compensation Committee of the Company’s Board of Directors granted inducement non-qualified stock options to purchase an aggregate of 242,600 shares of common stock to 36 new employees, pursuant to the Oyster Point Pharma, Inc., 2021 Inducement Incentive Plan.

242,600 stock options were granted and have exercise prices ranging from $6.25 to $12.44 per share. All stock options will vest over four years, with 1/4^th of the underlying shares vesting on the one-year anniversary of the applicable vesting commencement date and 1/36^th of the remaining underlying shares vesting on each monthly anniversary thereafter, subject to the new employees’ continued service relationship with Oyster Point Pharma through the applicable vesting dates.

The Compensation Committee of Oyster Point Pharma's Board of Directors approved the awards as an inducement material to the new employees’ employment in accordance with Nasdaq Listing Rule 5635(c)(4).

About Oyster Point Pharma, Inc.

Oyster Point Pharma is a commercial-stage biopharmaceutical company focused on the discovery, development and commercialization of first-in-class pharmaceutical therapies to treat ophthalmic diseases. In October 2021, Oyster Point Pharma received FDA-approval for its first prescription treatment. Oyster Point Pharma has a growing pipeline of clinical and pre-clinical programs and continues to expand its research and development pipeline through internal innovation and external collaborations. Oyster Point Pharma is continuously striving to advance breakthrough science and deliver therapies seeking to address the unmet needs of patients with ophthalmic disease and the eye care professionals who take care of them. For more information, visit www.oysterpointrx.com and follow @OysterPointRx Twitter and LinkedIn.

Investor Contact
Arty Ahmed
(646) 436-4702
aahmed@oysterpointrx.com

Media Contact
Karen Castillo-Paff
(347) 920-0248
kpaff@oysterpointrx.com

FAQ

What is the recent stock option grant by Oyster Point Pharma?

Oyster Point Pharma granted non-qualified stock options to purchase 242,600 shares to 36 new employees as part of their 2021 Inducement Incentive Plan.

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

The exercise prices for the stock options range from $6.25 to $12.44 per share.

How will the stock options vest for new employees at Oyster Point Pharma?

The stock options will vest over four years, with a quarter vesting on the first anniversary and the remainder vesting monthly thereafter.

What does the stock option grant signify for Oyster Point Pharma?

The stock option grant signifies investment in new talent and confidence in the company's growth potential.

When was the stock option grant announced by Oyster Point Pharma?

The stock option grant was announced on September 7, 2022.