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

Rhea-AI Summary

Anika Therapeutics, Inc. (NASDAQ: ANIK), a global joint preservation company in early intervention orthopedics, has announced the granting of non-statutory stock options to a newly hired non-executive employee. The grant, made on October 1, 2024, covers 6,350 shares of common stock with a per share exercise price of $24.27, matching the closing price on the Nasdaq Global Select Market on the grant date.

The options were granted under the Anika Therapeutics, Inc. 2021 Inducement Plan, as amended, and approved by the compensation committee of the board of directors. In accordance with Nasdaq Listing Rule 5635(c)(4), the grant serves as a material inducement for the employee's acceptance of employment. 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 on the tenth anniversary of the grant date unless terminated earlier.

Positive

• Anika is attracting new talent with stock options as part of compensation packages
• The company is utilizing its 2021 Inducement Plan to offer competitive employment terms

Negative

• None.

BEDFORD, Mass., Oct. 04, 2024 (GLOBE NEWSWIRE) -- Anika Therapeutics, Inc. (NASDAQ: ANIK), a global joint preservation company in early intervention orthopedics, today announced that on October 1, 2024, Anika granted non-statutory stock options (“Options”) covering an aggregate of 6,350 shares of common stock at a per share exercise price of $24.27, 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.
Matt Hall, 781-457-9554
Director, Corporate Development and Investor Relations
investorrelations@anika.com

FAQ

How many stock options did Anika Therapeutics (ANIK) grant on October 1, 2024?

Anika Therapeutics (ANIK) granted non-statutory stock options covering 6,350 shares of common stock to a newly hired non-executive employee on October 1, 2024.

What was the exercise price of the stock options granted by Anika Therapeutics (ANIK) on October 1, 2024?

The exercise price of the stock options granted by Anika Therapeutics (ANIK) on October 1, 2024, was $24.27 per share, which equaled the closing price of common stock on the Nasdaq Global Select Market on the grant date.

What is the vesting schedule for the stock options granted by Anika Therapeutics (ANIK) on October 1, 2024?

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

Under which plan were the stock options granted by Anika Therapeutics (ANIK) on October 1, 2024?

The stock options were granted under the Anika Therapeutics, Inc. 2021 Inducement Plan, as amended, which was not subject to stockholder approval.