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Rockwell Medical Announces Inducement Grants Under Nasdaq Listing Rule 5635(C)(4)
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Rockwell Medical (RMTI) announced on September 9, 2022, the grant of stock options for 66,000 shares to three new employees as part of Inducement Grants. These grants, made outside of the company's 2018 Long Term Incentive Plan, are designed to incentivize the new hires. The exercise price will match the closing stock price on the grant date, with vesting occurring annually over four years, contingent upon continued employment. Rockwell Medical is a key player in healthcare, focusing on products for blood disorders and renal diseases, including FDA-approved therapies and proprietary iron technology.
Positive
Grant of 66,000 stock options to incentivize new employees.
Stock options have an exercise price equal to the closing stock price on grant date.
Vesting schedule promotes employee retention over four years.
Negative
None.
WIXOM, Mich.--(BUSINESS WIRE)--
Rockwell Medical, Inc. (Nasdaq: RMTI) (“Rockwell Medical” or the “Company”), a commercial healthcare company focused on providing life-sustaining products for patients suffering from blood disorders and diseases associated with the kidney, today announced that the Compensation Committee of the Company’s Board of Directors approved the grant of stock options to purchase an aggregate of 66,000 shares of the Company’s common stock to three new employees (the “Inducement Grants”) on September 9, 2022 (the “Grant Date”). The Inducement Grants have been granted outside of the Company’s 2018 Long Term Incentive Plan (“Plan”) but remain subject to the terms and conditions of such Plan. The Inducement Grants were granted as an inducement material to these individuals entering into employment with Rockwell Medical in accordance with Nasdaq Listing Rule 5635(c)(4).
The Inducement Grants have an exercise price per share that is equal to the closing price of the Company’s common stock on the Grant Date. The Inducement Grants will vest in equal annual installments on each of the first four anniversaries of the Grant Date, subject to continued employment through the applicable vesting dates.
About Rockwell Medical
Rockwell Medical is a commercial healthcare company focused on providing life-sustaining products for patients suffering from blood disorders and diseases associated with the kidney. Rockwell is the second largest supplier of acid and bicarbonate concentrates for dialysis patients in the United States. The Company is developing and commercializing a next-generation, proprietary parenteral iron technology platform, Ferric Pyrophosphate Citrate (“FPC”), which has the potential to transform treatment options for iron deficiency in multiple disease states, reduce healthcare costs and improve patients' lives. Rockwell has two FDA-approved therapies indicated for patients undergoing hemodialysis, which are the first two products developed from the FPC platform. Rockwell is also advancing its FPC platform by developing FPC for the treatment of iron deficiency anemia in patients outside of dialysis, who are receiving medications in the home infusion setting. For more information, visit www.RockwellMed.com.
