Adamas Announces New Employment Inducement Grant

Rhea-AI Summary

Adamas Pharmaceuticals (Nasdaq: ADMS) has announced the granting of stock options and restricted stock units to two new employees, totaling 269,250 shares at an exercise price of $5.12 each, along with 2,125 restricted stock units. These awards will vest over four years and are part of the 2016 Inducement Plan, aimed at attracting new talent. The plan complies with Nasdaq rules for equity grants. Adamas continues its focus on innovative treatments for neurological diseases, notably its FDA-approved drug GOCOVRI for Parkinson's disease-related dyskinesia.

Positive

• Granting stock options and restricted stock units may enhance employee retention and attract talent.
• The exercise price of $5.12 aligns with the company's recent stock performance.

Negative

• None.

EMERYVILLE, Calif., Sept. 11, 2020 (GLOBE NEWSWIRE) -- Adamas Pharmaceuticals, Inc. (Nasdaq: ADMS) today announced that the compensation committee of the company’s board of directors granted two new employees the option to purchase an aggregate of 269,250 shares of the company’s common stock, at a per share exercise price of $5.12, the closing trading price on September 8, and restricted stock units to acquire 2,125 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 stock options were granted by Adamas Pharmaceuticals on September 11, 2020?

Adamas Pharmaceuticals granted 269,250 stock options to two new employees at an exercise price of $5.12 each.

What is the vesting period for the stock options granted by Adamas Pharmaceuticals?

The stock options and restricted stock units vest over a period of four years.

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

The 2016 Inducement Plan aims to induce new employees to join the company by providing stock-based compensation.

What is GOCOVRI and its significance for Adamas Pharmaceuticals?

GOCOVRI is an FDA-approved medication by Adamas for treating dyskinesia in Parkinson's disease patients, marking a key product in their portfolio.