MONTREAL and CHARLOTTE, N.C., Oct. 6, 2023
/CNW/ -- Milestone Pharmaceuticals Inc. (Nasdaq: MIST) (the
"Company" or "Milestone"), today announced that the Company granted
equity awards, in the form of a total of 122,000 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 October
2, 2023 and an exercise price of $2.98 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 awards were granted as an inducement
material to the employees 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 focused on the development and
commercialization of innovative cardiovascular medicines.
Milestone's lead product candidate etripamil recently completed its
Phase 3 clinical-stage program for the treatment of paroxysmal
supraventricular tachycardia (PSVT) and is in a Phase 2
proof-of-concept trial for the treatment of patients with AFib-RVR.
Milestone Pharmaceuticals operates in Canada and the
United States. Find out more at www.milestonepharma.com.
Contact:
Kim Fox, Vice President,
Communications
kfox@milestonepharma.com
704-803-9295
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SOURCE Milestone Pharmaceuticals, Inc.