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

Rhea-AI Summary

Ocular Therapeutix (NASDAQ:OCUL) has announced inducement awards for a new employee under its 2019 Inducement Stock Incentive Plan, complying with Nasdaq Listing Rule 5635(c)(4). The awards, effective December 9, 2024, include:

- Non-statutory stock options to purchase 215,000 shares at market price, vesting over 4 years with 25% after first year and remaining monthly over 3 years

- Restricted stock unit awards for 70,000 shares, vesting in equal annual installments over 3 years starting December 9, 2024

Both awards are contingent on continued employment with the company.

Positive

• Stock-based compensation aligns employee interests with shareholders
• Structured vesting schedule promotes long-term employee retention

Negative

• Potential shareholder dilution from 285,000 new shares
• Additional stock-based compensation expense impact on financial statements

BEDFORD, Mass., Dec. 13, 2024 (GLOBE NEWSWIRE) -- Ocular Therapeutix, Inc. (NASDAQ:OCUL, “Ocular”), a biopharmaceutical company committed to improving vision in the real world through the development and commercialization of innovative therapies for retinal diseases and other eye conditions, today announced that it has agreed to grant 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 December 9, 2024 and consist of (i) non-statutory stock options to purchase up to 215,000 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) restricted stock unit awards representing the right to receive 70,000 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 the one-year anniversary of the recipient’s employment commencement date 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, beginning on December 9, 2024, 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 improving vision in the real world through the development and commercialization of innovative therapies for retinal diseases and other eye conditions. AXPAXLI™ (axitinib intravitreal implant, 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 implant or OTX-TIC), which is currently in a Phase 2 clinical trial for the treatment of open-angle glaucoma or ocular hypertension.

Follow Ocular on its website, LinkedIn or X.

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

How many shares are included in OCUL's December 2024 inducement grant?

The inducement grant includes options to purchase 215,000 shares and restricted stock units for 70,000 shares, totaling 285,000 shares.

What is the vesting schedule for OCUL's December 2024 stock options grant?

The stock options vest over 4 years, with 25% vesting after one year and the remainder vesting monthly over the following three years.

How do the restricted stock units (RSUs) vest in OCUL's December 2024 grant?

The RSUs vest over three years in equal annual installments, beginning on December 9, 2024.

What is the exercise price for OCUL's December 2024 stock options grant?

The exercise price equals the closing price of Ocular's common stock on The Nasdaq Global Market on December 9, 2024.