Alimera Sciences Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
The Compensation Committee approved granting on March 11, 2024, as an inducement material to each new employee’s employment, 125,000 restricted stock units and 125,000 performance-based restricted stock units to Mr. Wood; 75,000 restricted stock units and 75,000 performance-based restricted stock units to Mr. Maltz; and options to collectively purchase up to 24,500 shares of common stock of the Company to the five other new, non-executive employees.
- The Compensation Committee approved granting on March 11, 2024, as an inducement material to each new employee’s employment, 125,000 restricted stock units and 125,000 performance-based restricted stock units to Mr. Wood; 75,000 restricted stock units and 75,000 performance-based restricted stock units to Mr. Maltz; and options to collectively purchase up to 24,500 shares of common stock of the Company to the five other new, non-executive employees.
- The stock options have an exercise price of $3.77 per share, which is equal to the closing price of a share of the Company’s common stock on the Nasdaq Global Market on March 11, 2024.
- One third (1/3) of the performance-based restricted stock unit awards will vest annually during a three-year performance period if either one of the pre-established annual revenue target or stock price target is satisfied during such performance year, subject to continued employment with the Company through the vesting dates.
- Each Inducement Grant was awarded as an inducement material to the employee’s commencement of employment in accordance with Nasdaq Listing Rule 5635(c)(4), and each such Inducement Grant Each award is subject to the terms and conditions of the Alimera Sciences, Inc. 2024 Equity Inducement Plan and the grant agreements evidencing the awards.