Anika Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
BEDFORD, Mass., May 13, 2022 (GLOBE NEWSWIRE) -- Anika Therapeutics, Inc. (NASDAQ: ANIK), a global joint preservation company in early intervention orthopedics, today announced that on May 2, 2022, Anika granted non-statutory stock options (“Options”) covering an aggregate of 13,091 shares of common stock at a per share exercise price of $21.61, which equaled the closing price of common stock on the Nasdaq Global Select Market (“Closing Price”) on the grant date, 16,113 Options at a per share exercise price of $23.77, which equaled 110% of the Closing Price on the grant date, and restricted stock units ( “RSUs”) covering an aggregate of 20,818 shares of common stock to 5 newly hired non-executive employees. Each grant was made pursuant to the Anika Therapeutics, Inc. 2021 Inducement Plan, was approved by the compensation committee of the board of directors pursuant to a delegation of authority by the board of directors, and, in accordance with Nasdaq Listing Rule 5635(c)(4), was made as a material inducement to the grantee’s acceptance of employment with Anika as a component of the grantee’s employment compensation.
Of the shares covered by each of the Options, one-third will vest on each of the first three anniversaries of the grant date, in each case for so long as the grantee provides continuous service to Anika through the relevant vesting date.
The RSUs will vest in three equal installments, with one-third of the shares covered by each of the RSUs vesting on each of the first three anniversaries of the grant date, in each case for so long as the grantee provides continuous service to Anika through the relevant vesting date.
Unless earlier terminated in accordance with their terms, the Options will expire on the tenth anniversary of the grant date and the Options and RSUs are otherwise subject to the terms and conditions of the respective equity award agreements approved by Anika. The Options and RSUs were granted pursuant to the Anika Therapeutics, Inc. 2021 Inducement Plan, which was not subject to stockholder approval.
Anika Therapeutics, Inc. (NASDAQ: ANIK), is a global joint preservation company that creates and delivers meaningful advancements in early intervention orthopedic care. Leveraging our core expertise in hyaluronic acid and implant solutions, we partner with clinicians to provide minimally invasive products that restore active living for people around the world. Our focus is on high opportunity spaces within orthopedics, including osteoarthritis pain management, regenerative solutions, sports medicine soft tissue repair and bone preserving joint technologies, and our products are efficiently delivered in key sites of care, including ambulatory surgery centers. Anika’s global operations are headquartered outside of Boston, Massachusetts. For more information about Anika, please visit www.anika.com.
ANIKA, ANIKA THERAPEUTICS and the Anika logo are registered trademarks of Anika Therapeutics, Inc.
For Investor Inquiries:
Anika Therapeutics, Inc.
Mark Namaroff, 781-457-9287
Vice President, Investor Relations, ESG and Corporate Communications
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