MindMed Announces New Employee Inducement Grants
September 09 2024 - 4:01PM
Business Wire
Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) (the “Company” or
“MindMed”), a clinical-stage biopharmaceutical company developing
novel product candidates to treat brain health disorders, today
announced the issuance of inducement grants to three newly hired
non-executive employees consisting of options to purchase an
aggregate of 70,000 common shares of the Company (the "Options"),
with an effective grant date of September 9, 2024. The Options have
an exercise price equal to the closing price of MindMed’s common
shares on September 6, 2024, the last trading day on which
MindMed’s common shares traded prior to the date of the grant, and
will vest over a four-year period with 25% vesting on October 1,
2025 and the remaining 75% vesting in substantially equal monthly
increments over the three-year period thereafter, subject to each
employee’s continued employment.
The Options were granted as a material inducement to each
employee’s employment and were approved by MindMed's Compensation
Committee on September 6, 2024, in accordance with Rule 5635(c)(4)
of The NASDAQ Stock Market LLC. The Options were granted outside
MindMed's equity incentive plans.
About MindMed
MindMed is a clinical-stage biopharmaceutical company developing
novel product candidates to treat brain health disorders. Our
mission is to be the global leader in the development and delivery
of treatments that unlock new opportunities to improve patient
outcomes. We are developing a pipeline of innovative product
candidates, with and without acute perceptual effects, targeting
neurotransmitter pathways that play key roles in brain health
disorders. MindMed trades on NASDAQ under the symbol MNMD.
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