OPIANT PHARMACEUTICALS, INC. FILES (8-K) Disclosing Change in Directors or Principal Officers

Edgar Glimpses |

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Option Grants to Directors

Effective as of , the Board of Directors (the "Board") of Opiant Pharmaceuticals, Inc. (the "Company") unanimously approved an annual grant of 2,500 stock options (the "Annual Options") to each independent board member, with the timing of each annual grant starting in 2019 to coincide with the date of the Company's Annual Shareholder Meeting.

The initial grant of the 2,500 Annual Options to each independent board member was granted on to each of Ann MacDougall, Thomas T. Thomas and Dr. Gabrielle Silver. Richard Daly, who was appointed to the Board on , did not receive a grant of Annual Options.

The Annual Options (i) are exercisable for the purchase of common stock of the Company at $15.56 per share, (ii) have an exercise period of ten years from the date of grant of the Annual Options, (iii) vest 100% on the one-year anniversary of the grant date, and (iv) were granted under the Company's 2017 Long-Term Incentive Plan, which was filed as Exhibit 10.52 to the Company's Annual Report on Form 10-K filed on .



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