MALVERN, Pa., September 16, 2022 (GLOBE NEWSWIRE) — Ocugen, Inc. (Ocugen or the Company) OCGN, a biotechnology company focused on the discovery, development and commercialization of novel gene and cell therapies and vaccines, today announced that the Compensation Committee of Ocugen’s Board of Directors has approved the grant of stock options to purchase an aggregate of 148,800 common and restricted stock Units (RSUs) totaling 40,092 common shares for five newly hired team members. The stock options and RSUs were granted on September 16, 2022 as tangible incentives for employment pursuant to Nasdaq Listing Rule 5635(c)(4).
The stock options have a ten-year term and an exercise price of $2.17 per share, which was the closing price of Ocugen common stock on the grant date. The stock options and RSUs vest in equal annual installments over a period of three years from the one-year anniversary of the grant date, subject to the applicable new employee’s continued employment with Ocugen through the applicable vesting dates. The stock options and RSUs were granted outside of Ocugen’s 2019 Equity Incentive Plan.
About Ocugen, Inc.
Ocugen, Inc. is a biotechnology company focused on discovering, developing and commercializing novel gene and cell therapies and vaccines that improve health and bring hope to patients around the world. We impact patients’ lives through bold innovation – breaking new scientific ground that leverages our unique intellectual and human capital. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with a single product, and we are advancing infectious disease research to support public health and orthopedic conditions to address unmet medical needs. Discover more below www.ocugen.com and keep following us Twitter and LinkedIn.
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