Molekule Group announced that the Company’s Compensation Committee has granted an equity inducement award of common stock to a new executive employee in connection with his joining the Company. The Company granted 500,000 restricted stock units to Ryan Patch, its new Chief Legal Officer, Corporate Secretary and Senior Vice President. The grant of restricted stock units was promised to Mr. Patch in his employment agreement with the Company as a material inducement of employment in accordance with Nasdaq Listing Rule 5635(c)(4). The restricted stock units granted to Patch will vest on a quarterly basis pro-rata in substantially equal installments over a four-year period, subject to Patch’s continued employment through the applicable vesting dates.
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