Milestone Pharmaceuticals granted 113,000 stock options to new hires as employment inducements under its 2021 Inducement Plan.
Quiver AI Summary
Milestone Pharmaceuticals Inc. announced the grant of 113,000 stock options to three new employees on January 2, 2025, as part of its 2021 Inducement Plan. The options, priced at $2.17 per share, will vest over four years, with a quarter vesting after one year and the remainder in monthly installments. This equity award is intended as a material incentive for the new hires, complying with Nasdaq Listing Rule 5635(c)(4). Milestone, a biopharmaceutical company focused on cardiovascular solutions, is known for its investigational product, etripamil, a nasal spray for self-administering treatment of certain heart conditions.
Potential Positives
- The grant of 113,000 options to new hires reflects the company's commitment to attracting and retaining talent, which is crucial for its growth and innovation in the biopharmaceutical industry.
- The options are priced at $2.17, equal to the market closing price on the grant date, aligning the interests of employees with those of shareholders.
- The structured vesting schedule over four years encourages long-term retention and commitment from new employees, which can foster stability and continuity in the workforce.
- This equity award is compliant with Nasdaq Listing Rule 5635(c)(4), demonstrating Milestone's adherence to regulatory standards and corporate governance practices.
Potential Negatives
- The granting of 113,000 options as inducements for new hires may raise concerns about the company's reliance on equity compensation to attract talent, potentially indicating challenges in offering competitive salaries.
- The issuance of options at a price equal to the stock's closing price might suggest insufficient investor confidence, as it offers no immediate financial incentive for employees beyond the market price.
- The requirement for continuous service through each vesting date could lead to high turnover rates if new employees do not find long-term satisfaction, affecting company stability and culture.
FAQ
What are the equity awards granted by Milestone Pharmaceuticals?
Milestone Pharmaceuticals granted 113,000 options to purchase common shares as equity awards to three new hires.
What is the exercise price for the granted options?
The exercise price for the granted options is $2.17 per share, equal to the closing price on the grant date.
How does the vesting schedule for the options work?
The options vest over four years, with 25% vesting after one year and the remaining in 36 monthly installments.
What is the purpose of the 2021 Inducement Plan?
The 2021 Inducement Plan is designed to grant equity awards to new employees as a material inducement to join Milestone.
What is Milestone Pharmaceuticals known for?
Milestone Pharmaceuticals is a biopharmaceutical company focused on developing innovative cardiovascular solutions for heart conditions.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$MIST Hedge Fund Activity
We have seen 13 institutional investors add shares of $MIST stock to their portfolio, and 10 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- LION POINT CAPITAL, LP removed 686,053 shares (-29.3%) from their portfolio in Q3 2024
- ALTIUM CAPITAL MANAGEMENT LP removed 572,368 shares (-56.5%) from their portfolio in Q3 2024
- STONEPINE CAPITAL MANAGEMENT, LLC removed 239,409 shares (-19.3%) from their portfolio in Q3 2024
- ADAR1 CAPITAL MANAGEMENT, LLC removed 174,529 shares (-86.2%) from their portfolio in Q3 2024
- MORGAN STANLEY added 89,658 shares (+10.8%) to their portfolio in Q3 2024
- CITADEL ADVISORS LLC removed 85,822 shares (-4.0%) from their portfolio in Q3 2024
- BML CAPITAL MANAGEMENT, LLC added 33,196 shares (+3.0%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
MONTREAL and CHARLOTTE, N.C., Jan. 07, 2025 (GLOBE NEWSWIRE) -- Milestone Pharmaceuticals Inc. (Nasdaq: MIST) (the “Company” or “Milestone”), today announced that the Company granted equity awards, in the form of a total of 113,000 options (the “Options”) to purchase the Company’s common shares, pursuant to the Company’s 2021 Inducement Plan (the “Plan”), previously approved by the Company’s Compensation Committee and the Board of Directors, as a material inducement to employment of three new hires.
The Options have a grant date of January 2, 2025 and an exercise price of $2.17 per share, which is equal to the closing price of Milestone’s common shares on the grant date. The shares subject to the Options will vest over four years, with 25% of the shares vesting on the one-year anniversary of the vesting commencement date and the balance of the shares vesting in a series of 36 successive equal monthly installments thereafter.
The Option awards are subject to the award holder’s continuous service through each vesting date and to the terms and conditions of the Plan and its standard forms of grant agreements thereunder.
The foregoing equity award was granted as an inducement material to the employee entering into employment with Milestone, in accordance with Nasdaq Listing Rule 5635(c)(4). The Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Milestone, or following a bona fide period of non-employment, as an inducement material to such individual’s entering into employment with Milestone, pursuant to Nasdaq Listing Rule 5635(c)(4).
About Milestone Pharmaceuticals
Milestone Pharmaceuticals Inc. (Nasdaq: MIST) is a biopharmaceutical company developing and commercializing innovative cardiovascular solutions to improve the lives of people living with complex and life-altering heart conditions. The Company’s focus on understanding unmet patient needs and improving the patient experience has led us to develop new treatment approaches that provide patients with an active role in self-managing their care. Milestone's lead investigational product is etripamil, a novel calcium channel blocker nasal spray that is being studied for patients to self-administer without medical supervision to treat episodic attacks associated with PSVT and AFib-RVR.
Contact:
Kim Fox, Vice President, Communications
kfox@milestonepharma.com
704-803-9295
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
