Oyster Point Pharma, Inc., Reports Incentive Grants Under Nasdaq Listing Rule 5635 (c) (4)
PRINCETON, NJ, January 04, 2022 (GLOBE NEWSWIRE) – Oyster Point Pharma, Inc., (Nasdaq: OYST), a commercial-stage biopharmaceutical company focused on the discovery, development and commercialization of leading pharmaceutical therapies to treat ophthalmic diseases, today announced that the compensation committee of its board of directors has granted unqualified stock options to purchase a total of 90,800 common shares to seven new employees, in accordance with the Incentive Oyster Point Pharma, Inc., 2021 Incentive Plan.
Each stock option has an exercise price per share equal to $ 17.65 per share, the closing price of Oyster Point on the grant date, and will vest over four years, one-quarter of the underlying shares being acquired on the first anniversary of the applicable acquisition date. and 1 / 36th of the remaining Underlying Shares vested on each monthly anniversary thereafter, subject to the new employee’s continuing service relationship with Oyster Point until the applicable vesting dates.
The Compensation Committee of the Oyster Point Board of Directors approved the awards as an incentive to hire new employees in accordance with Nasdaq Enrollment Rule 5635 (c) (4).
About Oyster Point Pharma, Inc.
Oyster Point Pharma is a commercial-stage biopharmaceutical company focused on the discovery, development and commercialization of leading pharmaceutical therapies to treat ophthalmic diseases. In October 2021, Oyster Point Pharma received FDA approval for TYRVAYA ™ nasal spray (varenicline solution) for the treatment of signs and symptoms of dry eye. Oyster Point has a growing portfolio of clinical and preclinical programs and continues to expand its research and development portfolio through internal innovation and external collaborations. Oyster Point Pharma continually strives to advance cutting-edge science and provide therapies to address the unmet needs of patients with ophthalmic disease and the eyecare professionals who care for them. For more information, visit www.oysterpointrx.com and follow @OysterPointRx on Twitter and LinkedIn.
LifeSci Advisors, LLC
Sheryl Seapy, the real chemistry