Alimera Sciences Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

ATLANTA, June 04, 2024 (GLOBE NEWSWIRE) -- Alimera Sciences, Inc. (Nasdaq: ALIM) (“Alimera” or the “Company”), a global pharmaceutical company whose mission is to be invaluable to patients, physicians, and partners concerned with retinal health, and maintaining better vision longer, today announced that, pursuant to Nasdaq Listing Rule 5635(c)(4) and in connection with the appointments of five non-executive employees, the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”) approved, on May 22, 2024 (the “Grant Date”), inducement awards consisting of stock options under the Alimera Sciences, Inc. 2024 Equity Inducement Plan to persons who were not previously employees or who rejoined the Company following a bona fide period of non-employment, as an inducement material to each such new or re-hired employee’s employment (collectively, the “Inducement Awards”).

The Inducement Awards grant the recipients the right to purchase, in the aggregate, 64,000 shares of common stock of the Company at an exercise price of $3.00 per share, representing the closing price of a share of the Company’s common stock on the Nasdaq Global Market on the Grant Date.

The Inducement Awards will vest over four years, with 25% of the award vesting on the one-year anniversary of the employment commencement date and 75% of the award vesting in equal installments over the following thirty-six (36) months, subject to continued employment with the Company through each applicable vesting date.

Each Inducement Award was awarded as an inducement material to the employee’s commencement of employment in accordance with Nasdaq Listing Rule 5635(c)(4) and is subject to the terms and conditions of the Alimera Sciences, Inc. 2024 Equity Inducement Plan and the grant agreement evidencing the award.

About Alimera Sciences, Inc.

Alimera Sciences is a global pharmaceutical company whose mission is to be invaluable to patients, physicians and partners concerned with retinal health and maintaining better vision longer. For more information, please visit www.alimerasciences.com.