BEDFORD, Mass., May 13, 2022 (GLOBE NEWSWIRE) — Anika Therapeutics, Inc. (ANIK), a global joint preservation company in early intervention orthopedics, today announced that on May 2, 2022, Anika granted non-statutory stock options (“Options”) covering a total of 13,091 common shares at an exercise price per share of $21.61, which is equal to the closing price of common shares on the Nasdaq Global Select Market (“Closing Price”) on the date of grant, 16,113 options at an exercise price per share of $23.77, which is equivalent to 110% of the closing price on the grant date, and restricted stock units (“RSU”) relating to a total of 20,818 common shares to 5 newly hired non-executive employees. Each grant was made pursuant to Anika Therapeutics, Inc.’s 2021 Incentive Plan, was approved by the Compensation Committee of the Board of Directors pursuant to a delegation of authority by the Board of Directors and, pursuant to Nasdaq listing rule 5635(c)(4), was made as a material inducement to the recipient’s acceptance of employment with Anika as part of the recipient’s employment compensation.
Of the shares subject to each option, one-third will vest on each of the first three anniversary dates of the grant date, in each case so long as the beneficiary provides continuous services to Anika up to the relevant vesting date.
The RSUs will vest in three equal installments, with one-third of the shares covered by each RSU vesting on each of the first three anniversaries of the grant date, in each case so long as the beneficiary provides continuous service to Anika through the date of grant. relevant acquisition.
Unless terminated earlier in accordance with their terms, the options will expire on the tenth anniversary of the grant date and the options and RSUs are otherwise subject to the terms and conditions of the respective share grant agreements. approved by Anika. The options and PSUs were granted pursuant to Anika Therapeutics, Inc.’s 2021 Incentive Plan, which was not subject to shareholder approval.
Anika Therapeutics, Inc. (ANIK), is a global joint preservation company that creates and delivers significant advances in early intervention orthopedic care. Leveraging our core expertise in hyaluronic acid and implant solutions, we partner with clinicians to provide minimally invasive products that restore active living for people around the world. We focus on high-potential areas in orthopedics, including osteoarthritis pain management, regenerative solutions, soft tissue repair in sports medicine, and bone-preserving joint technologies, and our products are effectively delivered to major care sites, including ambulatory surgery centers. Anika’s global operations are based out of Boston, Massachusetts. For more information about Anika, please visit www.anika.com.
ANIKA, ANIKA THERAPEUTICS and the Anika logo are registered trademarks of Anika Therapeutics, Inc.
For investor inquiries:
Anika Therapeutics, Inc.
Mark Namaroff, 781-457-9287
Vice President, Investor Relations, ESG and Corporate Communications