NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) is thrilled to announce the approval of an equity award under the NeuroOne Medical Technologies Corporation 2021 Inducement Plan to one individual entering into employment with the Company, effective May 1, 2023.
This award, approved by the Compensation Committee of the Board of Directors, is a material inducement meant to reward and incentivize the individual’s commitment to the Company, and is in accordance with Nasdaq Listing Rule 5635(c)(4).
The newly employed individual at NeuroOne was granted an option to purchase 55,000 shares of the company’s common stock with an exercise price of $1.64 per share, the closing price of NeuroOne’s common stock on May 1, 2023.
This option will remain valid for ten years and will vest in increments of 25% on the first anniversary of the new hire’s start date, and the remainder of the shares will vest in 12 equal quarterly installments on the last day of each quarter, provided the new hire’s employment is still active on each such date.
NeuroOne Medical Technologies Corporation is a pioneering company that is revolutionizing the way neurological disorders are treated. Our cutting-edge EEG recording, brain stimulation and ablation solutions are designed to provide minimally invasive and hi-definition treatments for patients suffering from epilepsy, Parkinson’s disease, dystonia, essential tremors, chronic pain due to failed back surgeries and other related neurological disorders. Our aim is to improve patient outcomes and reduce procedural costs, and to usher in a new era of neurological care.