Anika Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Anika Therapeutics (NASDAQ: ANIK) has announced the granting of non-statutory stock options to a newly hired non-executive employee on April 1, 2025. The options cover 3,800 shares of common stock with an exercise price of $15.03 per share, matching the closing price on Nasdaq Global Select Market on the grant date.

The options were granted under the Anika Therapeutics 2021 Inducement Plan and approved by the compensation committee. The vesting schedule includes one-third of the shares vesting on each of the first three anniversaries of the grant date, contingent on continuous service. The options will expire after ten years and were granted as a material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4).

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BEDFORD, Mass., April 07, 2025 (GLOBE NEWSWIRE) -- Anika Therapeutics, Inc. (NASDAQ: ANIK), a global leader in the Osteoarthritis (“OA”) Pain Management and Regenerative Solutions space focused on early intervention orthopedics, today announced that on April 1, 2025, Anika granted non-statutory stock options (“Options”) covering an aggregate of 3,800 shares of common stock at a per share exercise price of $15.03, which equaled the closing price of common stock on the Nasdaq Global Select Market (“Closing Price”) on the grant date, to one newly hired non-executive employee. The grant was made pursuant to the Anika Therapeutics, Inc. 2021 Inducement Plan, as amended, 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 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.

Unless earlier terminated in accordance with their terms, the Options will expire on the tenth anniversary of the grant date and are otherwise subject to the terms and conditions of the equity award agreement approved by Anika. The Options were granted pursuant to the Anika Therapeutics, Inc. 2021 Inducement Plan, as amended, which was not subject to stockholder approval.

About Anika

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 and Regenerative Solutions, 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 trademarks of Anika Therapeutics, Inc. or its subsidiaries or are licensed to Anika Therapeutics, Inc. for its use.

For Investor Inquiries:
Anika Therapeutics, Inc.
Matt Hall, 781-457-9554
Director, Corporate Development and Investor Relations
investorrelations@anika.com

FAQ

What are the terms of ANIK's April 2025 stock option grant?

The grant includes 3,800 shares at $15.03 per share, vesting over 3 years with one-third vesting annually, expiring after 10 years.

How does the vesting schedule work for ANIK's April 2025 inducement grant?

One-third of the options vest on each of the first three anniversaries of the April 1, 2025 grant date, requiring continuous employment.

What is the exercise price for ANIK's April 2025 inducement stock options?

The exercise price is $15.03 per share, equal to ANIK's closing price on Nasdaq Global Select Market on April 1, 2025.

When do the ANIK April 2025 inducement stock options expire?

The options expire on the tenth anniversary of the April 1, 2025 grant date, unless terminated earlier under the agreement terms.