RADNOR, PA — Mineralys Therapeutics, Inc. (Nasdaq: MLYS) granted equity awards covering 237,400 shares to newly appointed Chief Medical Officer Dr. Terry Ferguson on Aug. 10 as part of an employment inducement package structured under Nasdaq rules.
The awards consist of a stock option covering 135,000 shares and restricted stock units covering 102,400 shares of Mineralys common stock, according to the company.
A majority of the independent directors on Mineralys’ board approved the grants under the company’s 2025 Employment Inducement Incentive Award Plan, which is designed to provide equity incentives to newly hired employees.
The option award will vest over four years. Twenty-five percent of the underlying shares will vest on Aug. 10, 2027, with the remainder vesting in monthly increments of 1/48th thereafter, subject to Ferguson’s continued service.
The restricted stock units will also vest over four years, with 25% of the shares vesting on each of the first four anniversaries of the Aug. 10, 2026, vesting commencement date, subject to continued employment.
Mineralys characterized the awards as a material inducement to Ferguson joining the company. The grants were made in accordance with Nasdaq Listing Rule 5635(c)(4), which permits certain equity awards to new employees outside a shareholder-approved compensation plan when specified conditions are met.
The Radnor-based biopharmaceutical company is developing treatments targeting hypertension and conditions associated with dysregulated aldosterone, including chronic kidney disease and obstructive sleep apnea.
Its lead product candidate, lorundrostat, is an investigational oral aldosterone synthase inhibitor. Mineralys was founded by Catalys Pacific.
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