Altimmune Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Altimmune (Nasdaq: ALT) announced equity awards granted to incoming Chief Financial Officer Gregory Weaver, effective November 11, 2024. The compensation package includes options to purchase 225,000 shares of common stock and 75,000 restricted stock units (RSUs). Based on November 8 closing price, approximately 172,920 options would be issued as inducement awards, with the remainder as incentive stock options. The options and RSUs will vest over four years, with 25% vesting after the first year and the remainder vesting gradually, subject to continued employment.
Altimmune (Nasdaq: ALT) ha annunciato l'assegnazione di premi in azioni al nuovo Chief Financial Officer Gregory Weaver, a partire dal 11 novembre 2024. Il pacchetto di compensazione include opzioni per acquistare 225.000 azioni ordinarie e 75.000 unità azionarie vincolate (RSU). Basandosi sul prezzo di chiusura dell'8 novembre, circa 172.920 opzioni verranno emesse come premi di indennizzo, mentre il resto sarà composto da opzioni azionarie di incentivo. Le opzioni e le RSU saranno soggette a maturazione in quattro anni, con il 25% che matura dopo il primo anno e il resto matura gradualmente, a condizione di continuare l'impiego.
Altimmune (Nasdaq: ALT) anunció la concesión de acciones a su nuevo Director Financiero Gregory Weaver, con efecto a partir del 11 de noviembre de 2024. El paquete de compensación incluye opciones para comprar 225.000 acciones ordinarias y 75.000 unidades de acciones restringidas (RSUs). Con base en el precio de cierre del 8 de noviembre, aproximadamente 172.920 opciones se emitirán como premios por inducción, y el resto como opciones sobre acciones de incentivo. Las opciones y RSUs se consolidarán durante cuatro años, con un 25% consolidándose después del primer año y el resto consolidándose gradualmente, sujeto a la continuación del empleo.
Altimmune (나스닥: ALT)는 최고재무책임자 그레고리 위버에게 오는 2024년 11월 11일부터 효력이 발생하는 지분 보상을 발표했습니다. 보상 패키지에는 225,000주를 구매할 수 있는 옵션과 75,000개의 제한 주식 단위(RSU)가 포함되어 있습니다. 11월 8일 종가를 기준으로, 약 172,920개의 옵션이 유인 보상으로 발급될 것이며, 나머지는 인센티브 주식 옵션으로 제공될 것입니다. 옵션과 RSU는 4년 동안 만기될 예정이며, 첫 해가 지나면 25%가 만기되고 나머지는 점진적으로 만기가 되며, 계속 고용될 경우에 따라 달라집니다.
Altimmune (Nasdaq: ALT) a annoncé l'attribution de récompenses en actions au nouveau Directeur Financier Gregory Weaver, à compter du 11 novembre 2024. Le paquet de rémunération comprend des options pour acheter 225 000 actions ordinaires et 75 000 unités d'actions restreintes (RSU). Sur la base du prix de clôture du 8 novembre, environ 172 920 options seront émises en tant que prix d'incitation, le reste étant des options d'actions incitatives. Les options et les RSU vont se consolider sur quatre ans, avec 25 % se consolidant après la première année et le reste se consolidant progressivement, sous réserve de la poursuite de l'emploi.
Altimmune (Nasdaq: ALT) hat die Vergabe von Eigenkapitalleistungen an den neuen Chief Financial Officer Gregory Weaver bekannt gegeben, die am 11. November 2024 wirksam werden. Das Vergütungspaket umfasst Optionen zum Erwerb von 225.000 Stammaktien und 75.000 Restricted Stock Units (RSUs). Basierend auf dem Schlusskurs vom 8. November würden etwa 172.920 Optionen als Anreizvergütung ausgegeben, der Rest als Incentive-Stockoptions. Die Optionen und RSUs werden über einen Zeitraum von vier Jahren fällig, wobei 25 % nach dem ersten Jahr fällig werden und der Rest allmählich fällig wird, sofern das Beschäftigungsverhältnis fortgesetzt wird.
- Strengthening executive team with new CFO appointment
- Potential shareholder dilution from new equity awards
GAITHERSBURG, Md., Nov. 11, 2024 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq: ALT), a clinical-stage biopharmaceutical company, today announced that the Compensation Committee of its Board of Directors granted equity awards under Altimmune’s 2018 Inducement Grant Plan, as a material inducement to employ Gregory Weaver as Altimmune’s Chief Financial Officer effective November 11, 2024. The equity awards were approved on November 6, 2024, in accordance with Nasdaq Listing Rule 5635(c)(4).
Mr. Weaver received, in the aggregate, options to purchase 225,000 shares of Altimmune’s common stock, and 75,000 restricted stock units (“RSUs”). The options will have an exercise price equal to the closing price of Altimmune’s common stock on November 11, 2024 (the “Grant Date”). Based on the closing price Altimmune’s common stock on November 8, 2024, Altimmune would issue approximately 172,920 options as inducement awards under its 2018 Inducement Grant Plan, and the balance as incentive stock options under its 2017 Omnibus Incentive Plan. The final allocation of options between the 2018 Inducement Grant Plan and 2017 Omnibus Plan are subject to adjustment based on the closing price of Altimmune’s common stock on the Grant Date. One-fourth of the shares underlying the options will vest on the one-year anniversary of the Grant Date and thereafter 1/36th of the shares underlying the options will vest monthly, such that the shares underlying the options will be fully vested on the fourth anniversary of the Grant Date, in each case, subject to Mr. Weaver’s continued employment with Altimmune on such vesting dates.
One-fourth of the RSUs will vest on the one-year anniversary of the Grant Date and thereafter the RSUs will vest in three substantially equal annual installments, such that the RSUs will be fully vested on the fourth anniversary of the Grant Date, in each case, subject to Mr. Weaver’s continued employment with Altimmune on such vesting dates.
About Altimmune
Altimmune is a clinical-stage biopharmaceutical company focused on developing innovative next-generation peptide-based therapeutics. The Company is developing pemvidutide, a GLP-1/glucagon dual receptor agonist for the treatment of obesity and MASH. For more information on Altimmune, please visit www.altimmune.com.
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Company Contact:
Vipin Garg
President and Chief Executive Officer
Phone: 240-654-1450
ir@altimmune.com
Investor Contacts:
Lee Roth
Burns McClellan
Phone: 646-382-3403
lroth@burnsmc.com
Julia Weilman
Burns McClellan
Phone: 646-732-4443
jweilman@burnsmc.com
Media Contact:
Danielle Cantey
Inizio Evoke, Biotech
Phone: 619-826-4657
Danielle.cantey@inizioevoke.com
This press release was published by a CLEAR® Verified individual.
FAQ
What equity awards did Altimmune (ALT) grant to its new CFO in November 2024?
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