Ocuphire Pharma Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

FARMINGTON HILLS, Mich., Nov. 27, 2023 (GLOBE NEWSWIRE) -- Ocuphire Pharma, Inc. (Nasdaq: OCUP), a clinical-stage ophthalmic biopharmaceutical company focused on developing and commercializing small-molecule therapies for the treatment of retinal and refractive eye disorders, today announced that the independent members of its Board of Directors approved an equity award under Ocuphire’s 2021 Inducement Plan, as a material inducement to Joseph K. Schachle, the Company’s newly appointed Chief Operating Officer, in connection with his employment with the Company effective on November 27, 2023. The equity award was approved in accordance with Nasdaq Listing Rule 5635(c)(4), which also requires a public announcement of equity awards that are not made under a stockholder approved equity plan.

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