NeuroOne reports inducement grant under Nasdaq listing rule

NeuroOne Medical Technologies Corporation announced that, effective February 23, 2024, the Compensation Committee of the Board of Directors approved an equity award under the NeuroOne Medical Technologies Corporation 2021 Inducement Plan, as a material inducement to one individual entering into employment with the Company. The equity award was approved in accordance with Nasdaq Listing Rule 5635(c)(4), which also requires a public announcement of awards that are not made under a stockholder approved equity plan.

In connection with entering into employment with NeuroOne, the individual, who was not previously an employee or director of NeuroOne, received an option to purchase 65,000 shares of the Company’s common stock. The option award has an exercise price of $1.07 per share, the closing price of NeuroOne’s common stock on February 23, 2024, the date of the grant. The option has a ten-year term and vests as to 25% on the first anniversary of the new hire’s start date, with the remaining shares vesting in 12 equal quarterly installments on the last day of each quarter, provided the new hire’s employment is continuing on each such date.
MB Bureau