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

Rhea-AI Summary

Anika Therapeutics (NASDAQ: ANIK), a global joint preservation company, has announced the granting of non-statutory stock options to a newly hired non-executive employee. The grant, made on September 3, 2024, covers 2,500 shares of common stock at an exercise price of $25.15 per share, matching the closing price on the Nasdaq Global Select Market that day.

The options were granted under the Anika Therapeutics, Inc. 2021 Inducement Plan, as amended, and approved by the compensation committee. In accordance with Nasdaq Listing Rule 5635(c)(4), this grant serves as a material inducement for the employee's acceptance of employment. The vesting schedule is set for one-third of the shares annually over three years, contingent on continuous service. The options will expire after ten years unless terminated earlier.

Positive

• Stock options granted as a material inducement for new employee, potentially attracting talent
• Vesting schedule of one-third annually over three years encourages employee retention

Negative

• None.

News Market Reaction

+1.32%

1 alert

+1.32% News Effect

On the day this news was published, ANIK gained 1.32%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

BEDFORD, Mass., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Anika Therapeutics, Inc. (NASDAQ: ANIK), a global joint preservation company in early intervention orthopedics, today announced that on September 3, 2024, Anika granted non-statutory stock options (“Options”) covering an aggregate of 2,500 shares of common stock at a per share exercise price of $25.15, 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, Regenerative Solutions, Sports Medicine and Arthrosurface Joint 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 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
investorrelations@anika.com

FAQ

How many stock options did Anika Therapeutics (ANIK) grant on September 3, 2024?

Anika Therapeutics (ANIK) granted non-statutory stock options covering 2,500 shares of common stock on September 3, 2024.

What was the exercise price for the stock options granted by Anika Therapeutics (ANIK)?

The exercise price for the stock options granted by Anika Therapeutics (ANIK) was $25.15 per share, which matched the closing price on the Nasdaq Global Select Market on the grant date.

What is the vesting schedule for the stock options granted by Anika Therapeutics (ANIK)?

The vesting schedule for the stock options is one-third of the shares on each of the first three anniversaries of the grant date, subject to continuous service with Anika Therapeutics (ANIK).

Under which plan were the stock options granted by Anika Therapeutics (ANIK)?

The stock options were granted under the Anika Therapeutics, Inc. 2021 Inducement Plan, as amended.