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Rockwell Medical Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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WIXOM, Mich.--(BUSINESS WIRE)--
Rockwell Medical, Inc. (the "Company") (Nasdaq: RMTI), a healthcare company that develops, manufactures, commercializes, and distributes a portfolio of hemodialysis products to dialysis providers worldwide, today announced that the Compensation Committee of the Company’s Board of Directors approved the grant of stock options to purchase an aggregate of 30,000 shares of the Company’s common stock to 11 new employees (the “Inducement Grants”) on May 10, 2023 (the “Grant Date”). The Inducement Grants have been granted outside of the Company’s 2018 Long Term Incentive Plan (“Plan”) but remain subject to the terms and conditions of such Plan. The Inducement Grants were granted as an inducement material to these individuals entering into employment with Rockwell Medical in accordance with Nasdaq Listing Rule 5635(c)(4).
The Inducement Grants have an exercise price per share that is equal to the closing price of the Company’s common stock on the Grant Date. The Inducement Grants will vest 25% on the first anniversary of the Grant Date, with 1/48th of the Inducement Grant vesting each month thereafter until fully vested, subject to continued employment through the applicable vesting dates.
About Rockwell Medical
Rockwell Medical, Inc. (Nasdaq: RMTI) is a healthcare company that develops, manufactures, commercializes, and distributes a portfolio of hemodialysis products for dialysis providers worldwide. Rockwell Medical's mission is to provide dialysis clinics and the patients they serve with the highest quality products supported by the best customer service in the industry. Rockwell is focused on innovative, long-term growth strategies that enhance its products, its processes, and its people, enabling the Company to deliver exceptional value to the healthcare system and provide a positive impact on the lives of hemodialysis patients. Hemodialysis is the most common form of end-stage kidney disease treatment and is typically performed at freestanding outpatient dialysis centers, hospital-based outpatient centers, skilled nursing facilities, or in a patient’s home. Rockwell Medical's products are vital to vulnerable patients with end-stage kidney disease, and the Company is relentless in providing unmatched reliability and customer service. Rockwell Medical is the second largest supplier of acid and bicarbonate concentrates for dialysis patients in the United States and intends to become the leading global supplier of hemodialysis concentrates. Certified as a Great Place to Work® in 2023, Rockwell Medical is Driven to Deliver Life-Sustaining Dialysis SolutionsTM. For more information, visit www.RockwellMed.com.
rockwell medical is a fully-integrated biopharmaceutical company targeting end-stage renal disease (esrd) and chronic kidney disease (ckd) with innovative products and services for the treatment of iron replacement, secondary hyperparathyroidism and hemodialysis. rockwell’s new innovative therapy triferic is the only fda approved drug indicated to replace iron and maintain hemoglobin in hemodialysis patients suffering from anemia. via dialysate during each dialysis treatment, triferic replaces the 5-7 mg iron loss that occurs in all patients, maintaining their iron balance. unlike iv iron products, triferic binds iron immediately and completely to transferrin (carrier of iron in the body) upon entering the blood and is then transported directly to the bone marrow to be incorporated into hemoglobin, with no increase in ferritin (stored iron and inflammation) and no anaphylaxis, addressing a significant unmet need in overcoming functional iron deficiency (fid) in esrd patients. visit www
