RADNOR, PA — Marinus Pharmaceuticals, Inc. (Nasdaq: MRNS), a pharmaceutical company specializing in the development of innovative therapeutics, has announced the grant of inducement awards to four new employees. The grants, approved by the Compensation Committee of the Board of Directors, are part of the company’s strategy to attract top talent and incentivize employee performance.
The inducement awards consist of non-qualified stock options to purchase a total of 74,650 shares of the company’s common stock, along with restricted stock units equivalent to 2,500 shares upon vesting. This move is designed to encourage long-term commitment and align the interests of the new hires with those of the company and its shareholders.
The stock options have an exercise price of $7.97 per share, the closing price of Marinus’ common stock on December 5, 2023, the date of the grant. The options will vest on a staggered schedule, with 25% of the underlying shares becoming exercisable on the one-year anniversary of each employee’s start date. The remaining 75% will vest over the next three years in 36 equal monthly installments, assuming continued employment with the company.
In addition to the stock options, the restricted stock units will vest in three equal installments over three years: May 15, 2025, May 15, 2026, and May 15, 2027. Both the stock options and the restricted stock units were granted as inducements material to each of the employees entering into employment with Marinus, in accordance with Nasdaq Listing Rule 5635(c)(4).
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