Agile Therapeutics Reports an Inducement Grant to New Chief Financial Officer Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Agile Therapeutics grants inducement award to new CFO

Positive

• Newly appointed CFO, Scott Coiante, granted 20,000 shares of AGRX stock

Negative

• None.

PRINCETON, N.J., Oct. 04, 2023 (GLOBE NEWSWIRE) -- Agile Therapeutics, Inc. (Nasdaq: AGRX), a women’s healthcare company, today announced the granting of a previously disclosed inducement award to the Company’s newly appointed Chief Financial Officer, Scott Coiante. In accordance with Nasdaq Listing Rule 5635(c)(4), the award was approved by the Company's Compensation Committee and made as a material inducement to Mr. Coiante’s entry into employment with the Company.

In connection with the commencement of employment, Mr. Coiante received restricted stock units (“RSUs”) on October 4, 2023, to receive 20,000 shares of Agile Therapeutics, Inc. common stock.

The RSUs have a 10-year term and a four-year vesting schedule and will vest in four equal installments over four years with the first installment vesting on the first anniversary of Mr. Coiante’s start date and the RSUs being fully vested on the fourth anniversary of Mr. Coiante’s start date, subject to Mr. Coiante’s continued service with the Company on the applicable vesting date.

About Agile Therapeutics, Inc.
Agile Therapeutics is a women's healthcare company dedicated to fulfilling the unmet health needs of today’s women. Our product and product candidates are designed to provide women with contraceptive options that offer freedom from taking a daily pill, without committing to a longer-acting method. Our initial product, Twirla^®, (levonorgestrel and ethinyl estradiol), a transdermal system, is a non-daily prescription contraceptive. Twirla is based on our proprietary transdermal patch technology, called Skinfusion^®, which is designed to allow drug delivery through the skin. For more information, please visit the company website at www.agiletherapeutics.com. The Company may occasionally disseminate material, nonpublic information on the Company’s website, Twitter account (@agilether), and LinkedIn account.

Contact:
Matt Riley
Head of Investor Relations & Corporate Communications
mriley@agiletherapeutics.com

FAQ

Who is the newly appointed CFO of Agile Therapeutics?

The newly appointed CFO of Agile Therapeutics is Scott Coiante.

What is the inducement award granted to the CFO?

The CFO received 20,000 shares of Agile Therapeutics, Inc. common stock.

What is the vesting schedule for the restricted stock units?

The RSUs will vest in four equal installments over four years, with the first installment vesting on the first anniversary of Mr. Coiante's start date.