Annexon Reports Inducement Grants to New Employees Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Annexon, Inc. (Nasdaq: ANNX) announces the granting of inducement awards to three new non-executive employees under the 2022 Employment Inducement Award Plan, with options to purchase 108,000 shares of Annexon common stock. The options have a ten-year term, an exercise price per share of $2.79, and vest over 4 years, subject to continued service through the applicable vesting dates.

BRISBANE, Calif., Dec. 18, 2023 (GLOBE NEWSWIRE) -- Annexon, Inc. (Nasdaq: ANNX), a clinical-stage biopharmaceutical company developing a new class of complement-based medicines for people living with devastating inflammatory-related diseases, today announced that it has granted inducement to three new non-executive employees under the terms of the 2022 Employment Inducement Award Plan. The equity awards were approved on December 13, 2023, in accordance with Nasdaq Listing Rule 5635(c)(4).

In the aggregate, the new non-executive employees received options to purchase 108,000 shares of Annexon common stock. The options carry a ten-year term and an exercise price per share equal to $2.79, which was the closing price of Annexon’s common stock on December 15, 2023, the date of grant, and vest 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 a clinical-stage biopharmaceutical company utilizing a distinct scientific approach to stop C1q and all inflammatory aspects of classical complement pathway activation before it starts. As the only company solely focused on shutting down C1q, Annexon is developing a fit-for-purpose pipeline of therapeutics designed to provide meaningful benefits across multiple diseases of the body, brain and eye. With proof-of concept data in both Guillain-Barré syndrome and geographic atrophy, Annexon is rigorously advancing its mid-to late-stage clinical trials to bring their potential treatments to patients as quickly as possible. To learn more visit annexonbio.com.

Investor Contact:

Holly Manning
THRUST Strategic Communications
holly@thrustsc.com

FAQ

What did Annexon, Inc. (Nasdaq: ANNX) announce?

Annexon, Inc. announced the granting of inducement awards to three new non-executive employees under the 2022 Employment Inducement Award Plan.

How many shares of Annexon common stock were included in the equity awards?

The new non-executive employees received options to purchase 108,000 shares of Annexon common stock.

What is the exercise price per share of the options?

The exercise price per share is $2.79.

How long is the term of the options?

The options have a ten-year term.

How do the options vest?

The options vest over 4 years, with 25% of the shares 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.