Ocular Therapeutix reports inducement grants under Nasdaq listing rule

Ocular Therapeutix has agreed to grant inducement awards to four newly hired employees. The awards were made as inducements material to each individual’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 to the four newly hired employees were granted effective as of August 5, 2024 and consist of non-statutory stock options to purchase up to an aggregate of 132,400 shares of 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 the effective date of grant and restricted stock unit awards representing the right to receive an aggregate of 44,133 shares of Ocular’s common stock. Each 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 the recipient’s employment commencement date and the remainder vesting in equal monthly installments over the three years thereafter, subject to such individual’s continued service to Ocular through the applicable vesting dates. Each restricted stock unit award is scheduled to vest over three years, in equal annual installments, beginning on August 5, 2024, and subject to the recipient’s 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.