Jaguar Health Inc (NASDAQ:JAGX) is trading slightly higher in the pre-market session after soaring 505 in the past few wees.
Market Reaction
As of 8:00, JAGX stock slumped by 1 cent or 0.56% to trade at $1.78. So far more than 44 shares have exchanged hands.
Major Trigger:
Jaguar Health Announces New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Key Highlights:
- announced that effective May 27, 2021, the Company granted nonstatutory stock options for the purchase of up to 225,000 shares of the Company’s common stock to a new employee, as an inducement award under the Company’s 2020 Inducement Plan.
- These nonstatutory stock options have an exercise price of $1.68 per share, representing the closing price of Jaguar’s common stock as reported by Nasdaq on the grant date. These nonstatutory stock options have a ten-year term and vest over three years, with 25% of the shares vesting nine months from the last day of the month of the employee’s date of hire and, thereafter, 2.78% vesting monthly for the remaining twenty-seven months.
- Effective May 27, 2021, the Company also granted 112,500 restricted stock units (RSUs) to the same new employee under the Company’s 2014 Stock Incentive Plan. These RSUs vest over three years, with one-third of the shares vesting each year on the anniversary of the employee’s date of hire.
- All RSUs and nonstatutory stock options described above were granted as an inducement material to the new employee’s acceptance of employment with the Company and were approved by the Compensation Committee of the Board.
- Vesting of the RSUs and nonstatutory stock options is subject to the employee’s continued service with Jaguar through the applicable vesting dates.
 Stock Consolidates){kind=link}