NEWARK, N.J., April 16, 2021 /PRNewswire/ -- Rafael Holdings,
Inc., (NYSE: RFL), today announced that on April 15, 2021 it made a grant to William Conkling of options to purchase 118,409
shares of Class B common stock of the Company with an exercise
price equal to $40.85, the closing
price of the Class B common stock on April
14, 2021, the trading day prior to the grant.
The options shall vest as follows: 29,602 on April 15, 2022; 2,467 monthly for thirty-five
months commencing on May 15, 2022; and 2,462 on April 15, 2025.
The options were granted under Rafael's 2018 Equity Incentive
Plan, which was amended and restated to create an additional pool
of 118,409 shares of Rafael's Class B common stock to be used
exclusively for the grant of inducement awards in compliance with
New York Stock Exchange Rule 303A.08 ("Rule 303A.08"). The
option grant was approved by the Compensation Committee of the
Board of Directors and was offered as a material inducement to Mr.
Conkling's hiring as Chief Commercial Officer of the Company in
reliance on the employment inducement exemption under Rule 303A.08.
Mr. Conkling joined the Company on March 15,
2021.
The option grant described above will be subject to the terms of
the 2018 Equity Incentive Plan, as amended and
restated.
About Rafael Holdings, Inc.:
Rafael Holdings is
focused on development of novel cancer therapies. The company
is a significant investor in two clinical stage oncology companies,
Rafael Pharmaceuticals, Inc. and LipoMedix Pharmaceuticals
Ltd. Through its wholly owned Barer Institute subsidiary, the
company is developing a pipeline of compounds focused on the
regulation of cancer metabolism. For more information, visit
www.rafaelholdings.com.
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SOURCE Rafael Holdings, Inc.