BEDFORD, Mass., April 11, 2025 (GLOBE NEWSWIRE) -- Ocular Therapeutix, Inc. (NASDAQ: OCUL, "Ocular"), a biopharmaceutical company committed to redefining the retina experience, today announced that it has granted inducement awards to its newly appointed Executive Director, Payer Access, Thomas J. Cella, and one other newly hired non-executive employee. The awards were made as inducements material to the individual's acceptance of employment with Ocular under Ocular's 2019 Inducement Stock Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement equity awards were granted effective as of April 7, 2025 and consist of (i) for Mr. Cella, a non-statutory stock option to purchase up to 26,000 shares of Ocular's common stock and a restricted stock unit award representing the right to receive 8,500 shares of Ocular's common stock, and (ii) for the other newly hired non-executive employee, a non-statutory stock option to purchase up to 23,500 shares of Ocular's common stock and a restricted stock unit award representing the right to receive 7,700 shares of Ocular's common stock. Each stock option has an exercise price of $6.30 per share, equal to the closing price of Ocular's common stock on The Nasdaq Global Market on the effective date of grant. Each stock option has a ten-year term and is scheduled to vest over four years, with 25% of the original number of shares vesting on March 31, 2026 for Mr. Cella and March 10, 2026 for the other employee, and the remainder vesting in equal monthly installments over the three years after such dates, subject to each recipient's continued service to Ocular through the applicable vesting dates. Each restricted stock unit award is scheduled to vest over three years, in equal annual installments, with the first annual installment vesting on April 7, 2026 for Mr. Cella and for the other employee, and subject to each recipient's continued service to Ocular through the applicable vesting dates.
The inducement equity awards are subject to the terms and conditions of the award agreements covering the grants and Ocular's 2019 Inducement Stock Incentive Plan.
About Ocular Therapeutix, Inc.
Ocular Therapeutix, Inc. is a biopharmaceutical company committed to redefining the retina experience. AXPAXLI (axitinib intravitreal hydrogel, also known as OTX-TKI), Ocular's product candidate for retinal disease, is based on its ELUTYX proprietary bioresorbable hydrogel-based formulation technology. AXPAXLI is currently in Phase 3 clinical trials for wet age-related macular degeneration (wet AMD).
Ocular's pipeline also leverages the ELUTYX technology in its commercial product DEXTENZA®, an FDA-approved corticosteroid for the treatment of ocular inflammation and pain following ophthalmic surgery and ocular itching associated with allergic conjunctivitis, and in its product candidate PAXTRAVA (travoprost intracameral hydrogel or OTX-TIC), which is currently in a Phase 2 clinical trial for the treatment of open-angle glaucoma or ocular hypertension.
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The Ocular Therapeutix logo and DEXTENZA® are registered trademarks of Ocular Therapeutix, Inc. AXPAXLI, PAXTRAVA, ELUTYX, and Ocular Therapeutix are trademarks of Ocular Therapeutix, Inc.
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Ocular Therapeutix, Inc.
Bill Slattery
Vice President, Investor Relations
bslattery@ocutx.com
