On July 31, 2023 UroGen Pharma Ltd. (Nasdaq: URGN) a biotech company dedicated to developing and commercializing innovative solutions that treat urothelial and specialty cancers, reported the grants of inducement restricted stock units ("RSUs") and options ("Options") to a new employee, Michael Louie, SVP Medical Affairs & Clinical Development, in connection with his commencing employment with UroGen (Press release, UroGen Pharma, JUL 31, 2023, View Source [SID1234633550]).

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Up to 30,000 ordinary shares of UroGen are issuable upon the vesting and settlement of the RSUs and up to 20,000 ordinary shares are issuable upon the vesting and exercise of the Options. The Options have an exercise price of $8.84 per share, which is the closing price of the ordinary shares on the date of grant as reported on The Nasdaq Stock Market. The RSUs and Options will vest over three years, with one third of the underlying shares vesting each year on the anniversary of the vesting date, subject in each case to the employee’s continued service relationship with UroGen.

The RSUs and Options are subject to the terms and conditions of UroGen’s 2019 Inducement Plan and RSU and Option grant notice and agreements thereunder. The RSUs and Options were granted as an inducement material to the employee entering into employment with UroGen in accordance with Nasdaq listing Rule 5635(c)(4).