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Mind Medicine Inc. Announces New Employee Inducement Grants

Last updated: April 21, 2025
Taurigo

April 21, 2025 - Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), a prominent player in the biopharmaceutical sector focused on brain health disorders, has recently unveiled a significant step in its talent acquisition strategy. The company announced the issuance of employee inducement grants designed to attract and retain key non-executive personnel.

1. Details of the Inducement Grants

MindMed has granted options to purchase a total of 121,500 common shares to three newly hired non-executive employees. This move, which comes with an effective grant date of April 21, 2025, is aimed at incentivizing these employees as they embark on their journey with the company.

The options come with an exercise price that corresponds to the closing price of MindMed's common shares on April 18, 2025, which was the last trading day before the grant date. This alignment ensures that the new hires are motivated to contribute to the company's success, as their potential gains will be directly tied to the company’s market performance.

2. Vesting Schedule

The options granted will follow a structured vesting schedule, with 25% of the options vesting on the first anniversary of the grant. The remaining 75% will vest in equal monthly increments over the subsequent three years, contingent upon the continued employment of the respective employees. This vesting structure not only encourages long-term commitment but also aligns the interests of the employees with those of the shareholders.

3. Compliance and Approval

These inducement grants were approved by MindMed's Compensation Committee on April 16, 2025, in accordance with Rule 5635(c)(4) of The NASDAQ Stock Market LLC. It is noteworthy that these options were granted outside of MindMed's established equity incentive plans, which highlights the company’s strategic focus on attracting top talent in a competitive market.

4. About MindMed

MindMed is at the forefront of developing innovative product candidates aimed at treating various brain health disorders. The company positions itself as a late-stage clinical biopharmaceutical firm with a mission to lead in the development and delivery of groundbreaking treatments that enhance patient outcomes. Its pipeline includes a range of novel candidates targeting crucial neurotransmitter pathways, both with and without acute perceptual effects, indicating a versatile approach to neurological health.

Trading on NASDAQ under the ticker symbol MNMD, MindMed continues to make strides in its mission to revolutionize brain health treatment and improve the lives of countless individuals affected by neurological disorders.

As MindMed moves forward with its talent acquisition initiatives, the company is poised to strengthen its position in the biopharmaceutical industry, ultimately aiming to deliver transformative health solutions to patients worldwide.

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