Futura Medical PLC, a consumer healthcare company specializing in innovative sexual health products, has announced the granting of options over a total of 2,176,000 ordinary shares to employees and directors. Of these, 905,000 options were granted to directors and PDMRs. The options are part of annual awards made by Futura in accordance with existing share schemes. Vesting is subject to the achievement of a performance-related milestone and the employee remaining employed with the company at the date of exercise.
The options were granted under the Futura Medical PLC Enterprise Management Incentive Scheme and the unapproved scheme. Futura's lead product, Eroxon, is a clinically proven treatment for Erectile Dysfunction (ED) and is the only topical gel treatment for ED available over the counter, providing men with the ability to achieve an erection in ten minutes. The company has distribution partners in major consumer markets, including the US and Europe, and Eroxon has been nominated for and won healthcare industry awards.
The directors who received options include James Barder, Chief Executive Officer, Angela Hildreth, Finance Director and COO, and Ken James, Executive Director and Head of R&D. Each director was granted 345,000, 280,000, and 280,000 options, respectively, at an exercise price of 35.50p, with an exercise period from April 1, 2027, to March 31, 2034. The total number of options held by each director following the notification is detailed in the announcement.
The company's lead product, Eroxon, addresses significant unmet needs in the ED market, which impacts 1 in 5 men globally across all adult age brackets. Approximately half of all men over 40 experience ED, with 25% of all new diagnoses occurring in men under 40. Futura's distribution partners and the unique offering of Eroxon position the company to address the substantial market demand for effective ED treatments.