Adamas Announces New Employment Inducement Grant

Rhea-AI Summary

Adamas Pharmaceuticals (Nasdaq: ADMS) announced the grant of stock options and restricted stock units to three new employees, totaling 45,000 shares at an exercise price of $3.45. This price reflects the closing trading amount on November 6, 2020. The awarded stock options and restricted units will vest over four years and were issued under the 2016 Inducement Plan, approved by the board in March 2016. This move is aimed at attracting new talent to support the company’s growth in developing neurological disease therapies.

Positive

• Grant of stock options and restricted stock units aims to attract new employees.
• Stock options priced at $3.45, reflecting a recent trading price.

Negative

• None.

EMERYVILLE, Calif., Nov. 13, 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 45,000 shares of the company’s common stock, at a per share exercise price of $3.45, the closing trading price on November 6, and restricted stock units to acquire 22,500 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. 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 did Adamas Pharmaceuticals grant on November 13, 2020?

Adamas Pharmaceuticals granted stock options to three new employees for a total of 45,000 shares at an exercise price of $3.45.

How will the stock options granted by Adamas Pharmaceuticals vest?

The stock options and restricted stock units will vest over four years.

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.

What is the significance of the stock options being priced at $3.45?

The $3.45 exercise price reflects the common stock's closing trading price on November 6, 2020.