EyePoint reports inducement grants under Nasdaq listing rule

EyePoint Pharmaceuticals announced that the Company granted non-statutory stock options to a new employee as an inducement award outside the Company’s 2023 Long-Term Incentive Plan in accordance with NASDAQ Listing Rule 5635(c)(4). The Company granted stock options to purchase up to 10,000 shares of EyePoint Pharmaceuticals common stock to one new employee. The stock options were granted on January 12, 2023. The grant was approved by the Compensation Committee and made as an inducement material to the employee entering into employment with EyePoint Pharmaceuticals in accordance with NASDAQ Listing Rule 5635(c)(4). The option award has an exercise price of $22.76 per share, the closing price of EyePoint Pharmaceuticals’ common stock on January 12, 2024. The options have a ten-year term and vest over four years, with 25% of the original number of shares vesting on the first anniversary of the applicable employee’s date of grant and the remainder vesting in equal monthly installments over the following three years. Vesting of the options is subject to the employee’s continued service with EyePoint Pharmaceuticals through the applicable vesting dates.