SAN MATEO, Calif., May 20, 2024 /PRNewswire/ -- Talphera, Inc. (Nasdaq: TLPH), ("Talphera"), a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for use in medically supervised settings, today announced that the Board of Directors of Talphera has granted inducement awards consisting of a non-statutory time-based stock option to purchase 185,000 shares of common stock and a time-based restricted stock unit award for 32,000 shares of common stock on May 20, 2024 to Dr. Shakil Aslam in connection with his appointment as the Chief Development Officer of Talphera in May 2024.

The non-statutory stock option grant has an exercise price per share equal to $1.08, the closing price of Talphera's common stock on May 20, 2024, which will vest as to 25% of such shares on May 20, 2025, with the remainder vesting in equal monthly installments over the subsequent three-year period, subject to Dr. Aslam's continuous service on each vesting date. The time-based restricted stock units will vest over three years, with 1/3 of the underlying shares of common stock vesting on May 20, 2025, and the remainder vesting in equal annual installments over the subsequent two-year period, subject to Dr. Aslam's continuous service on each vesting date.

The Board of Directors, acting through a majority of the independent directors, approved the equity awards as an inducement material to Dr. Aslam's employment in accordance with Nasdaq Listing Rule 5635(c)(4). The terms of the inducement awards are governed by Talphera's 2020 Equity Incentive Plan but are made outside of such plan.

About Talphera, Inc.

Talphera, Inc. is a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for use in medically supervised settings. Talphera's lead product candidate, Niyad™ is a lyophilized formulation of nafamostat and is currently being studied under an investigational device exemption (IDE) as an anticoagulant for the extracorporeal circuit, and has received Breakthrough Device Designation status from the U.S. Food and Drug Administration (FDA). Talphera is also developing two pre-filled syringes in-licensed from its partner Aguettant: Fedsyra™, a pre-filled ephedrine syringe, and PFS-02, a pre-filled phenylephrine syringe.

This release is intended for investors only. For additional information about Talphera, please visit www.talphera.com.