Rockwell Medical Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
February 14 2022 - 04:05PM
Rockwell Medical, Inc. (Nasdaq: RMTI), a biopharmaceutical company
dedicated to transforming the treatment of iron deficiency and
anemia management and improving outcomes for patients around the
world, today announced that a majority of the independent directors
serving on the Company’s Board of Directors approved an option
grant to a new employee to purchase 10,000 shares of the Company’s
common stock (the “Inducement Grant”). The Inducement Grant has
been granted outside of the Company’s Amended and Restated 2018
Long Term Incentive Plan (“Plan”), but remains subject to the terms
and conditions of such Plan. The Inducement Grant was made as an
inducement material to such individual entering into employment
with Rockwell Medical in accordance with Nasdaq Listing Rule
5635(c)(4). The Inducement Grant has an exercise price of $0.40,
which is equal to the closing price of Rockwell Medical’s common
stock on February 10, 2022, the grant date of the award. The
Inducement Grant will vest over a 3-year period, with one-third of
the shares vesting on each of the first three anniversaries of the
grant date, subject to continued employment through the applicable
vesting dates.
About Rockwell
Medical
Rockwell Medical is a commercial-stage biopharmaceutical company
developing and commercializing its next-generation parenteral iron
technology platform, Ferric Pyrophosphate Citrate (FPC), which has
the potential to lead transformative treatments for iron deficiency
in multiple disease states, reduce healthcare costs and improve
patients’ lives. The Company has two FDA-approved therapies
indicated for patients undergoing hemodialysis, which are the first
two products developed from the FPC platform. The Company is
developing FPC for the treatment of iron deficiency in patients
outside of dialysis, who are receiving intravenous medications in
the home infusion setting, a large and rapidly growing segment of
healthcare, and where these patients suffer from chronic diseases
associated with high incidence of iron deficiency and anemia. In
addition, Rockwell Medical is one of two major suppliers of
life-saving hemodialysis concentrate products to kidney dialysis
clinics in the United States. For more information, visit
www.RockwellMed.com.
ROCKWELL MEDICAL
CONTACTS
Investors:Argot
Partners212.600.1902Rockwell@argotpartners.com
Media:David RosenArgot Partners212.600.1902
david.rosen@argotpartners.com
Source: Rockwell Medical, Inc.
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