The Medicines Co. (MDCO) announced that in accordance with NASDAQ Marketplace Rule 5635, the company issued new inducement stock options to five new hires.
The inducement stock options cover 6 thousand shares of common stock and are classified as non-qualified stock options with an exercise price equal to the fair market value on the grant date.
The company said that the options have a 10-year term and vest over four years, with 25% of these options will vest on the date one year from the optionee's hire date, the remainder will vest in monthly increments during the following 36 months.
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