RADNOR, PA — Marinus Pharmaceuticals, Inc. (Nasdaq: MRNS) has announced that it granted inducement awards to four new employees. The Delaware County, Pennsylvania-based company’s Compensation Committee recently approved the grant of non-qualified stock options, allowing the new hires to purchase an aggregate of 64,425 shares of common stock.
The stock option grants carry an exercise price of $10.21 per share, equivalent to the closing price of Marinus’s common stock on February 12, 2024, the date of the grant. According to the vesting schedule, 25% of the underlying shares will become available on the one-year anniversary of each employee’s start date. The remaining 75% will vest in 36 equal monthly installments thereafter, contingent on continued employment with Marinus.
These inducement awards, made in accordance with Nasdaq Listing Rule 5635(c)(4), are designed to incentivize and reward new employees for their contribution to the company. They are subject to the terms and conditions stipulated in the applicable award agreement.
Marinus Pharmaceuticals is a commercial-stage pharmaceutical company specializing in the development of innovative therapeutics for seizure disorders. In 2022, it introduced ZTALMY® (ganaxolone) oral suspension CV, an FDA-approved prescription medication, in the U.S market. Marinus continues to explore the potential of ganaxolone in IV and oral formulations to extend its therapeutic reach for both adult and pediatric patients in acute and chronic care settings.
By offering these inducement awards, Marinus aims to foster a culture of performance and innovation, critical for its mission to develop groundbreaking therapeutics for seizure disorders.
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