Biopharmaceutical company IVERIC bio Inc (NASDAQ:ISEE) announced on Tuesday that it granted non-statutory stock options to eight newly-hired, non-executive employees in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of his or her employment compensation.

The company added that the eight new employees received the non-statutory stock options to purchase an aggregate of 178,000 shares of its common stock as well as an aggregate of 6,500 restricted stock units for shares of its common stock.

These stock options each have an exercise price of USD16.57 per share, equal to the closing price of the company's common stock on 3 January 2022. The stock options each have a ten-year term.

Subject to the employee's continued service with the company through the applicable vesting date, the stock options vest over four years, with 25% of the shares underlying each option vesting on 3 January 2023 and an additional 2.0833% of the shares underlying each option vesting at the end of each successive month thereafter. Each restricted stock units vest with respect to 100% of the shares underlying the applicable grant on 1 July 2022.