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Momentus Grants Inducement Awards to 14 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 14 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 704,444 restricted stock units (RSUs) on March 21, 2022, with a total value of approximately $1.79 million based on a price of $2.54 per share, the closing trading price on the Nasdaq Global Select Market on the date of grant.\n\nThe RSUs have a four-year vesting schedule, with 25% of the shares subject to vesting on each anniversary of the relevant grant date through the fourth anniversary of the relevant grant date, subject to the relevant employee's continued service with Momentus on the applicable vesting date.\n\nAbout Momentus\n\nMomentus is a U.S. commercial space company that plans to offer 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. The Company anticipates flying its first Vigoride vehicle to Low Earth Orbit on a third-party launch provider as early as June 2022, subject to receipt of appropriate government licenses and approvals, for which there is no assurance such licenses and approvals will be received, if at all.\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,”...