Autonomix Medical, Inc. Grants Stock Options to New Executive Hire

Autonomix Medical Inc. Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)

March 21, 2023, 07:00 ET

Autonomix Medical Inc. (Nasdaq: AUTM), a clinical-stage biotechnology company focused on developing innovative treatments for patients with rare and debilitating diseases, today announced that the compensation committee of the board of directors has granted a total of 45,000 stock options to a new employee of the company.

The stock options were granted under the Autonomix Medical Inc. 2023 Stock Incentive Plan, which was approved by the company's shareholders on March 18, 2023. The stock options have an exercise price of $2.23, the closing price of the company's common stock on the Nasdaq Capital Market on March 17, 2023. The stock options will vest in three equal installments over a period of three years, with the first installment vesting on March 18, 2024.

The compensation committee of the board of directors approved the grant of the stock options to the new employee as an inducement to join the company, in accordance with Nasdaq Listing Rule 5635(c). The grant of the stock options was approved by the company's board of directors on March 20, 2023.

About Autonomix Medical Inc.

Autonomix Medical Inc. is a clinical-stage biotechnology company focused on developing innovative treatments for patients with rare and debilitating diseases. The company is currently developing a pipeline of therapies targeting rare genetic disorders and other diseases with significant unmet medical needs. For more information, please visit www.autonomixmedical.com.

Contact: Autonomix Medical Inc. [Email] [Phone]