Oyster Point Pharma reports inducement grants under Nasdaq listing rule

Oyster Point Pharma announced that the Compensation Committee of the Company’s Board of Directors granted inducement non-qualified stock options to purchase an aggregate of 11,300 shares of common stock to three new employees, pursuant to the Oyster Point Pharma, Inc., 2021 Inducement Incentive Plan. Each stock option has an exercise price equal to $11.20 per share, Oyster Point Pharma’s closing trading price on the grant date, and will vest over four years, with 1/4th of the underlying shares vesting on the one-year anniversary of the applicable vesting commencement date and 1/36th of the remaining underlying shares vesting on each monthly anniversary thereafter, subject to the new employees’ continued service relationship with Oyster Point Pharma through the applicable vesting dates. The Compensation Committee of Oyster Point Pharma’s Board of Directors approved the awards as an inducement material to the new employees’ employment in accordance with Nasdaq Listing Rule 5635(c)(4).