CervoMed announces inducement grants under Nasdaq lisitng rule

CervoMed (CRVO) has granted equity awards as a material inducement to the employment of two new employees. On December 6, 2024, the Company granted options to purchase an aggregate of 14,753 shares of common stock to two new employees. Each option has an exercise price of $11.91, the closing price of the Company’s common stock on the grant date, and each will vest in 36 equal installments on the last day of each month over a three-year period, subject to the employee’s continued employment with the Company on each such date. The awards were approved by the Compensation Committee of the Company’s Board of Directors as an inducement material to each new employee entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).