OvaScience Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
June 21 2017 - 5:18PM
Business Wire
OvaScience℠, Inc. (NASDAQ: OVAS), a global fertility company
focused on the discovery, development and commercialization of new
treatment options, today announced the grant of an inducement award
to its newly appointed Chief Executive Officer
Elect, Christopher Kroeger. The award was approved by
OvaScience’s Compensation Committee on June 21, 2017 as
an inducement material to him entering into employment with the
Company, as permitted under NASDAQ Listing Rule 5635(c)(4).
The inducement grant to Mr. Kroeger consisted of an option to
purchase up to 1,783,106 shares of common stock. The inducement
grant options are exercisable at a price of $1.46 per share,
equal to the closing price per share of OvaScience’s common stock
as reported by NASDAQ on June 21, 2017. The inducement stock
options vest over about 5 years and 7 months, subject to continued
service with the Company through the applicable vesting dates,
pursuant to the following vesting schedule: (i) 1,069,864 of the
shares subject to option will vest over the period from June 21,
2017 to June 21, 2021: with 25% of such shares vesting on June 21,
2018 and 6.25% of such shares vesting each quarter thereafter; (ii)
356,621 of the shares subject to option will vest over the period
from June 21, 2017 through January 31, 2022, with 25% of such
shares vesting on January 31, 2019 and 6.25% of such shares vesting
each quarter thereafter; and (iii) 356,621 of the shares subject to
the option will vest over the period from June 21, 2017 through
January 31, 2023, with 25% of such shares vesting on January 31,
2020 and 6.25% of such shares vesting each quarter thereafter.
About OvaScienceOvaScience, Inc. (NASDAQ: OVAS) is a
global fertility company dedicated to improving treatment options
for women around the world. OvaScience is discovering,
developing and commercializing new fertility treatments because it
believes women deserve more options.
Each OvaScience treatment is based on the Company’s
proprietary technology platform that leverages the breakthrough
discovery of egg precursor (EggPC℠) cells – immature egg cells
found inside the protective ovarian lining. OvaScience is
developing OvaTure℠, a potential next-generation in vitro
fertilization (IVF) treatment that could help a woman produce
healthy, young, fertilizable eggs without hormone injections and
OvaPrime℠, which could increase a woman’s egg reserve. OvaScience’s
AUGMENT℠ treatment is a fertility option designed to improve
IVF success rates. OvaScience treatments are not
available in the U.S. For more information,
visit www.ovascience.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170621006361/en/
Media and Investor Contact:OvaScience,
Inc.Jennifer Viera, 617-420-8748jviera@ovascience.com
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