Annexon Reports Inducement Grant to New Employee Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Annexon (ANNX) has granted a stock option inducement award to a new non-executive employee under its 2022 Employment Inducement Award Plan. The grant was approved on April 11, 2025, complying with Nasdaq Listing Rule 5635(c)(4).

The employee received options to purchase 105,000 shares of Annexon common stock at an exercise price of $1.54 per share, matching the closing price on April 15, 2025. The option has a ten-year term and vests over 4 years, with 25% vesting after the first year and the remaining vesting monthly at 1/48th, contingent on continued employment.

Positive

• Company maintains ability to attract talent through equity compensation

Negative

• Stock price at $1.54 indicates significant decline from IPO levels
• Potential dilution for existing shareholders from 105,000 new shares

BRISBANE, Calif., April 16, 2025 (GLOBE NEWSWIRE) -- Annexon, Inc. (Nasdaq: ANNX), a biopharmaceutical company advancing a late-stage clinical platform of novel therapies for people living with devastating classical complement-mediated neuroinflammatory diseases of the body, brain, and eye, today announced that it has granted inducement to a new non-executive employee under the terms of the 2022 Employment Inducement Award Plan. The equity award was approved on April 11, 2025, in accordance with Nasdaq Listing Rule 5635(c)(4).

The new non-executive employee received an option to purchase 105,000 shares of Annexon common stock. The option carries a ten-year term and an exercise price per share equal to $1.54, which was the closing price of Annexon’s common stock on April 15, 2025, the date of grant, and vests over 4 years, with 25% of the shares underlying the options vesting on the first anniversary of the grant date and an additional 1/48th of the shares vesting monthly thereafter, subject to continued service through the applicable vesting dates.

About Annexon

Annexon Biosciences (Nasdaq: ANNX) is developing therapeutics that stop classical complement-driven neurodegeneration as first-in-kind treatments for millions of people living with serious neuroinflammatory diseases of the body, brain and eye. Our novel scientific approach focuses on C1q, the initiating molecule of classical complement’s potent inflammatory pathway that when misdirected can lead to tissue damage and loss. By targeting C1q, our immunotherapies are designed to stop this neuroinflammatory cascade in disease before it starts. Our pipeline spans three diverse therapeutic areas – autoimmune, neurodegenerative and ophthalmic diseases – and includes targeted investigational drug candidates designed to address the unmet needs of over 8 million people worldwide. Annexon’s mission is to deliver game-changing therapies to patients so that they can live their best lives. To learn more visit annexonbio.com.

Investor Contact:

Joyce Allaire
LifeSci Advisors
jallaire@lifesciadvisors.com

FAQ

What are the terms of ANNX's latest employee stock option grant in April 2025?

The grant includes 105,000 shares at $1.54 per share, vesting over 4 years with 25% vesting in year one and 1/48th monthly thereafter, with a ten-year term.

How does the vesting schedule work for ANNX's April 2025 inducement grant?

The options vest over 4 years, with 25% vesting after the first year and the remaining portion vesting in monthly increments of 1/48th, subject to continued employment.

What was ANNX's stock price when the inducement grant was issued?

Annexon's stock price was $1.54 per share on April 15, 2025, which became the exercise price for the options.

What is the purpose of ANNX's 2022 Employment Inducement Award Plan?

The plan is used to grant equity awards to new employees as hiring incentives, in compliance with Nasdaq Listing Rule 5635(c)(4).