Quantum Pharma has granted over 1,100,000 Ordinary Shares to its Chief Financial Officer, Gerard Murray,upon his kickoff with the company on Monday.
The options, 10 pence each with an exercise price of 30 pence, represent approximately 0.65% of the current issued share capital.
The company said the options will vest and become exercisable at an exercise price of 30 pence, either on the mid-market closing share price being greater than 140 pence for an average of 90 days or on a change of control. The options shall lapse if the target has not been achieved by the end of 2021, and the exercise period runs from the vesting date until November 9, 2026, said the Quantum.
Gerard Murray now has an interest in 200,000 Ordinary Shares and options over 1,100,000 Ordinary Shares, representing 0.12% and 0.65% respectively of the current share capital.
Following the above LTIP grant and other recent grants of LTIP options (on the same terms as above) and lapses of existing LTIP options, there are outstanding options over 15,940,438 Ordinary Shares, representing approximately 9.43% of the current issued share capital, the company concluded