EyePoint Pharmaceuticals Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
September 16 2022 - 7:00AM
EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT), a pharmaceutical
company committed to developing and commercializing therapeutics to
help improve the lives of patients with serious eye disorders,
today announced that the Company granted non-statutory stock
options to new employees as inducement awards outside the Company’s
2016 Long-Term Incentive Plan in accordance with NASDAQ Listing
Rule 5635(c)(4).
The Company granted stock options to purchase up
to an aggregate of 19,700 shares of EyePoint Pharmaceuticals common
stock to four new employees. The stock options were granted on
September 15, 2022. The grants were approved by the Compensation
Committee and made as an inducement material to each employee
entering into employment with EyePoint Pharmaceuticals in
accordance with NASDAQ Listing Rule 5635(c)(4). The option awards
have an exercise price of $7.99 per share, the closing price of
EyePoint Pharmaceuticals’ common stock on September 15, 2022. The
options have a ten-year term and vest over four years, with 25% of
the original number of shares vesting on the first anniversary of
the applicable employee’s date of grant and the remainder vesting
in equal monthly installments over the following three years.
Vesting of the options is subject to the employee’s continued
service with EyePoint Pharmaceuticals through the applicable
vesting dates.
About EyePoint
Pharmaceuticals
EyePoint Pharmaceuticals (Nasdaq: EYPT) is a
pharmaceutical company committed to developing and commercializing
therapeutics to help improve the lives of patients with serious eye
disorders. The Company's pipeline leverages its proprietary
Durasert® technology for sustained intraocular drug delivery
including EYP-1901, an investigational sustained delivery
intravitreal anti-VEGF treatment initially targeting wet
age-related macular degeneration. The proven Durasert drug delivery
platform has been safely administered to thousands of patients'
eyes across four U.S. FDA approved products, including YUTIQ® for
the treatment of chronic non-infectious uveitis affecting the
posterior segment of the eye, which is currently marketed by the
Company. EyePoint Pharmaceuticals is headquartered in Watertown,
Massachusetts.
For EyePoint Pharmaceuticals:
Investors:Christina TartagliaStern
IRDirect: 212-698-8700christina.tartaglia@sternir.com
Media Contact:Amy PhillipsGreen
Room CommunicationsDirect:
412-327-9499aphillips@greenroompr.com
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