Adamas Announces New Employment Inducement Grant

Rhea-AI Summary

Adamas Pharmaceuticals (Nasdaq: ADMS) has granted stock options to three new employees, totaling 62,500 shares at an exercise price of $2.57, reflecting the closing price on July 8. Additionally, 31,250 shares in restricted stock units were also granted. These options and units will vest over a four-year period and were issued under the company's 2016 Inducement Plan, approved by the board of directors. This initiative aims to attract talent to support Adamas's mission of developing innovative medicines for neurological diseases.

Positive

• Granting of stock options and restricted stock units may improve employee retention and incentivize performance.
• The stock options reflect a commitment to attracting talent aligned with the company’s growth strategy.

Negative

• None.

EMERYVILLE, Calif., July 10, 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 62,500 shares of the company’s common stock, at a per share exercise price of $2.57, the closing trading price on July 8, and restricted stock units to acquire 31,250 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 purpose and vision are clear: deliver innovative medicines that make a clinically meaningful difference for 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 July 10, 2020?

Adamas Pharmaceuticals granted stock options to purchase 62,500 shares at $2.57, along with restricted stock units for 31,250 shares.

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

The stock options aim to attract and retain new employees, thereby supporting the company's growth and innovation in neurological medicine.

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

The stock options and restricted stock units vest over a four-year period.

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

The plan aims to induce new employees to join the company by providing equity grants.