Ocular Therapeutix reports inducement grants under Nasdaq listing rule

Ocular Therapeutix has granted inducement equity awards to its newly appointed Senior Vice President, Global Head of Biometrics, Liansheng Zhu. The awards were approved by the Compensation Committee of Ocular and were made as inducements material to Dr. Zhu’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 April 5, 2024 and consisted of a non-statutory stock option to purchase up to 130,000 shares of the 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 April 5, 2024 and a restricted stock unit award representing the right to receive 43,333 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 Dr. Zhu’s employment commencement date and the remainder vesting in equal monthly installments over the three years thereafter, subject to her 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 Dr. Zhu’s employment commencement date and subject to her 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.