Ocular Therapeutix™ Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Ocular Therapeutix (NASDAQ: OCUL) has announced inducement awards granted to a new employee under its 2019 Inducement Stock Incentive Plan, complying with Nasdaq Listing Rule 5635(c)(4). The awards, effective January 13, 2025, include:

1. A non-statutory stock option to purchase 95,600 shares at market price, vesting over four years with 25% vesting on January 13, 2026, and the remainder monthly over three years.

2. A restricted stock unit award for 31,375 shares, vesting in equal annual installments over three years, starting January 13, 2026.

Both awards are contingent on continued employment with Ocular through the vesting dates.

BEDFORD, Mass., Jan. 17, 2025 (GLOBE NEWSWIRE) --  Ocular Therapeutix, Inc. (NASDAQ: OCUL, “Ocular”, the “Company”), a biopharmaceutical company committed to redefining the retina experience, today announced that it has granted inducement awards to one newly hired employee. The awards were made as inducements material to the individual’s acceptance of employment with Ocular under Ocular’s 2019 Inducement Stock Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement equity awards were granted effective as of January 13, 2025 and consist of (i) a non-statutory stock option to purchase up to 95,600 shares of Ocular’s common stock at a per share exercise price equal to the closing price of Ocular’s common stock on The Nasdaq Global Market on the effective date of grant, and (ii) a restricted stock unit award representing the right to receive 31,375 shares of Ocular’s common stock. The stock option has a ten-year term and is scheduled to vest over four years, with 25% of the original number of shares vesting on January 13, 2026 and the remainder vesting in equal monthly installments over the three years thereafter, subject to the individual’s continued service to Ocular through the applicable vesting dates. The restricted stock unit award is scheduled to vest over three years, in equal annual installments, with the first annual installment vesting on January 13, 2026, and subject to the recipient’s continued service to Ocular through the applicable vesting dates.

The inducement equity awards are subject to the terms and conditions of the award agreements covering the grants and Ocular’s 2019 Inducement Stock Incentive Plan.

About Ocular Therapeutix, Inc.
Ocular Therapeutix, Inc. is a biopharmaceutical company committed to redefining the retina experience. AXPAXLI™ (axitinib intravitreal injection, also known as OTX-TKI), Ocular’s product candidate for retinal disease, is based on its ELUTYX™ proprietary bioresorbable hydrogel-based formulation technology. AXPAXLI is currently in Phase 3 clinical trials for wet age-related macular degeneration (wet AMD).

Ocular’s pipeline also leverages the ELUTYX technology in its commercial product DEXTENZA®, an FDA-approved corticosteroid for the treatment of ocular inflammation and pain following ophthalmic surgery and ocular itching associated with allergic conjunctivitis, and in its product candidate PAXTRAVA™ (travoprost intracameral injection or OTX-TIC), which is currently in a Phase 2 clinical trial for the treatment of open-angle glaucoma or ocular hypertension.

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The Ocular Therapeutix logo and DEXTENZA® are registered trademarks of Ocular Therapeutix, Inc. AXPAXLI™, PAXTRAVA™, ELUTYX™, and Ocular Therapeutix™ are trademarks of Ocular Therapeutix, Inc.

Investors & Media
Ocular Therapeutix, Inc.
Bill Slattery
Vice President, Investor Relations
bslattery@ocutx.com     

FAQ

What are the details of OCUL's January 2025 inducement stock options grant?

OCUL granted stock options for 95,600 shares at market price, vesting over 4 years with 25% vesting on January 13, 2026, and the remainder monthly over three years.

How many restricted stock units (RSUs) did OCUL grant in January 2025?

OCUL granted 31,375 restricted stock units, vesting in equal annual installments over three years, with the first vesting on January 13, 2026.

What is the vesting schedule for OCUL's January 2025 inducement awards?

The stock options vest 25% after one year and monthly thereafter for three years, while RSUs vest in equal annual installments over three years, both starting January 13, 2026.

Under which plan were OCUL's January 2025 inducement awards granted?

The awards were granted under Ocular's 2019 Inducement Stock Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4).