MALVERN, PA — Ocugen, Inc. (NASDAQ: OCGN) announced the Compensation Committee of the Board of Directors of Ocugen recently approved the grant of stock options to purchase an aggregate of 137,250 shares of its common stock and restricted stock units (RSUs) covering an aggregate of 23,000 shares of common stock to seven hired employees.
The stock options and RSUs were granted as of September 16, 2021, as material inducements to employment in accordance with Nasdaq Listing Rule 5635(c)(4).
The Company states that these stock options have a ten-year term and have an exercise price of $7.54 per share, which is the closing price of Ocugen’s common stock on the grant date. The stock options and RSUs vest in equal annual installments over a three-year period starting on the one-year anniversary of the grant date, subject to the applicable new employee’s continued service with Ocugen through the applicable vesting dates. The stock options and RSUs were granted outside of Ocugen’s 2019 Equity Incentive Plan.
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