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Momentus Grants Inducement Awards to 10 New Employees
SAN JOSE, Calif.--(BUSINESS WIRE)-- Momentus Inc. (NASDAQ: MNTS) ("Momentus" or the "Company"), a U.S. commercial space company that plans to offer
About this update from Momentus Inc.
[{"type":"text","content":" SAN JOSE, Calif.--(BUSINESS WIRE)--\nMomentus Inc. (NASDAQ: MNTS) (\"Momentus\" or the \"Company\"), a U.S. commercial space company that plans to offer transportation and other in-space infrastructure services, today announced the granting of inducement awards to 10 new employees. In accordance with NASDAQ Listing Rule 5635(c)(4), the awards were approved by Momentus’ Compensation Committee and made as a material inducement to each employee's entry into employment with the Company.\n\nIn connection with the commencement of their employment, the employees received an aggregate 433,447 restricted stock units (RSUs) on November 21, 2022 with a total value of approximately $0.51 million based on a price of $1.17 per share, the closing trading price on the Nasdaq Global Select Market on the date of grant.\n\nThe RSUs have either a three-year quarterly vesting schedule or a four-year annual vesting schedule, subject to the relevant employee's continued service with Momentus on the applicable vesting date.\n\nAbout Momentus Inc.\n\nMomentus is a U.S. commercial space company that offers in-space infrastructure services, including in-space transportation, hosted payloads and in-orbit services. Momentus believes it can make new ways of operating in space possible with its planned in-space transfer and service vehicles that will be powered by an innovative water plasma-based propulsion system that is under development.\n\nForward-Looking Statements\n\nThis press release contains certain statements which may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding Momentus or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, and are not guarantees of future performance. The words “may,” “will,” “anticipate,” “believe,” “expect,” “continue,” “could,” “estimate,” “future,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “aim,” “strive,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.\n\nForward-looking...