Ocular Therapeutix Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Ocular Therapeutix, Inc. (NASDAQ: OCUL), a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye, today announced that the Company entered into an employment agreement that provided for the grant of an inducement award outside the Company’s 2014 Stock Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4).

The Company granted a stock option to purchase up to 60,000 shares of Ocular Therapeutix’s common stock. The stock option was granted on July 9, 2019. The grant was approved by the Compensation Committee of Ocular Therapeutix and was made as an inducement material to Christopher White’s entering into employment with Ocular Therapeutix as its Senior Vice President, Head of Business and Corporate Development in accordance with Nasdaq Listing Rule 5635(c)(4). The option award has an exercise price of $5.13 per share, the closing price of Ocular Therapeutix’s common stock on July 9, 2019. The option has a ten-year term and is scheduled to vest over four years, with 25% of the original number of shares vesting on July 9, 2020 and the remainder vesting in equal monthly installments over the following three years. Vesting of the option is subject to Mr. White’s continued service to Ocular Therapeutix through the applicable vesting dates.

About Ocular Therapeutix, Inc.

Ocular Therapeutix, Inc. is a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye using its proprietary bioresorbable hydrogel-based formulation technology. Ocular Therapeutix’s first commercial drug product, DEXTENZA, is FDA-approved for the treatment of ocular inflammation and pain following ophthalmic surgery. OTX-TP (intracanalicular travoprost insert) is an intracanalicular insert in Phase 3 clinical development for the reduction of intraocular pressure in patients with primary open-angle glaucoma and ocular hypertension. The Company’s earlier stage assets include OTX-TIC, an extended-delivery intracameral travoprost implant for the reduction of intraocular pressure in patients with glaucoma and ocular hypertension, as well as sustained release intravitreal implants for the treatment of retinal diseases. These intravitreal implants include OTX-TKI, containing a tyrosine kinase inhibitor (TKI), and, in collaboration with Regeneron, OTX-IVT, an extended-delivery protein-based anti-vascular endothelial growth factor (VEGF) trap. Ocular Therapeutix's first product, ReSure Sealant, is FDA-approved to seal corneal incisions following cataract surgery.