WALTHAM, Mass.--(BUSINESS WIRE)--OvaScienceSM (NASDAQ: OVAS), a global fertility company focused on the discovery, development and commercialization of new treatment options, announced the grant of inducement awards to purchase an aggregate of 356,000 shares of its common stock to 16 newly hired employees. In connection with the Company’s previously announced corporate restructuring, the Company expects that 278,000 of these options will be cancelled, leaving 78,000 options remaining. The awards were approved by the Board's Compensation Committee on December 2, 2016 as an inducement material to each employee's acceptance of employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4). The options are exercisable at a price of $3.23 per share, the closing price per share of the Company’s common stock on the date of grant, and will vest over four years, with 25% of the shares vesting on the one-year anniversary of each employee’s hire date and an additional 6.25% of the shares vesting at the end of each subsequent quarter thereafter, subject to the new employee's continued service relationship with the Company through the applicable vesting dates.
About OvaScienceSM
OvaScience, Inc.
(NASDAQ: OVAS) is a global fertility company dedicated to improving
treatment options for women around the world. OvaScience is discovering,
developing and commercializing new fertility treatments because it
believes women deserve more options. Each OvaScience treatment is based
on the Company’s proprietary technology platform that leverages the
breakthrough discovery of egg precursor (EggPCSM) cells –
immature egg cells found inside the protective ovarian lining. The
AUGMENTSM treatment, a fertility option designed to improve
IVF success rates, is available in certain IVF clinics in select
international regions. OvaScience is developing the OvaPrimeSM
treatment, which could increase a woman’s egg reserve, and the OvaTureSM
treatment, a potential next-generation IVF treatment that could help a
woman produce healthy, young, fertilizable eggs without hormone
injections. OvaScience treatments are not available in the U.S. For more
information, visit www.ovascience.com.
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