Adamas Announces New Employment Inducement Grant

Rhea-AI Summary

Adamas Pharmaceuticals has announced the grant of stock options to three new employees, totaling 36,000 shares at an exercise price of $3.78, along with 18,000 restricted stock units. These options will vest over four years as part of the 2016 Inducement Plan, which aims to attract talent to the company. This moves comes as Adamas continues its focus on developing therapies for neurological diseases, including their FDA-approved medication, GOCOVRI, designed to treat dyskinesia in Parkinson's patients.

Positive

• The grant of stock options and restricted stock units can incentivize employee performance and retention.
• Adamas continues to grow its talent pool, potentially enhancing innovation and productivity.

Negative

• None.

EMERYVILLE, Calif., Aug. 14, 2020 (GLOBE NEWSWIRE) -- Adamas Pharmaceuticals, Inc. (Nasdaq: ADMS) today announced that the compensation committee of the company’s board of directors granted three new employees the option to purchase an aggregate of 36,000 shares of the company’s common stock, at a per share exercise price of $3.78, the closing trading price on August 7, and restricted stock units to acquire 18,000 shares of the company’s common stock. The stock options and restricted stock units vest over four years and were granted pursuant to the Adamas Pharmaceuticals, Inc. 2016 Inducement Plan, which was approved by the company's board of directors in March 2016 under Rule 5653(c)(4) of the Nasdaq Global Market for equity grants to induce new employees to enter into employment with the company.

About Adamas Pharmaceuticals, Inc. 

At Adamas our vision is clear – to deliver innovative medicines that reduce the burden of neurological diseases on patients, caregivers and society. We are a fully integrated company focused on growing a portfolio of therapies to address a range of neurological diseases. In 2018, Adamas successfully launched GOCOVRI® (amantadine) extended-release capsules, the first and only FDA-approved medicine for the treatment of dyskinesia in patients with Parkinson’s disease receiving levodopa-based therapy, with or without concomitant dopaminergic medications. GOCOVRI is also the only medicine clinically proven to reduce both dyskinesia and OFF. For more information, please visit www.adamaspharma.com.

Contact:

Investors:
Peter Vozzo
Westwicke Partners
443-213-0505
peter.vozzo@westwicke.com

Media:
Sarah Mathieson
Vice President, Communications & Engagement
510-450-3528
smathieson@adamaspharma.com

FAQ

What is the significance of the stock options granted by ADMS?

The stock options aim to attract and retain talent, aligning employee interests with company growth.

What is the exercise price for the stock options granted by Adamas Pharmaceuticals?

The exercise price for the stock options is $3.78 per share.

How many shares are included in the stock option grant by ADMS?

Adamas Pharmaceuticals granted stock options for an aggregate of 36,000 shares.

Over what period do the stock options vest for employees at Adamas?

The stock options vest over a four-year period.

What is the purpose of the 2016 Inducement Plan by Adamas Pharmaceuticals?

The 2016 Inducement Plan is designed to induce new employees to join the company through equity grants.