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

Rhea-AI Summary

Annexon, Inc. grants inducement to two new non-executive employees under the 2022 Employment Inducement Award Plan.

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• Annexon, Inc. grants options to purchase 75,600 shares of Annexon common stock to new non-executive employees.

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• None.

BRISBANE, Calif., Oct. 18, 2023 (GLOBE NEWSWIRE) -- Annexon, Inc. (Nasdaq: ANNX), a clinical-stage biopharmaceutical company developing a new class of complement medicines for patients with classical complement-mediated autoimmune, neurodegenerative and ophthalmic disorders, today announced that it has granted inducement to two new non-executive employees under the terms of the 2022 Employment Inducement Award Plan. The equity awards were approved on October 17, 2023, in accordance with Nasdaq Listing Rule 5635(c)(4).

In the aggregate, the new non-executive employees received options to purchase 75,600 shares of Annexon common stock. The options carry a ten-year term and an exercise price per share equal to $1.77, which was the closing price of Annexon’s common stock on October 17, 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 distinctive scientific approach to stop the initiator of classical complement-mediated inflammation, C1q, before it starts. As the only company solely focused on shutting down C1q, Annexon is developing a purposeful pipeline of investigational medicines 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 mid-to late-stage clinical trials to bring first-of-their kind therapies to millions of people living with devastating inflammatory-related diseases. To learn more visit annexonbio.com.

Investor Contact:

Chelcie Lister
THRUST Strategic Communications
monique@thrustsc.com

FAQ

What did Annexon, Inc. announce?

Annexon, Inc. announced that it has granted inducement to two new non-executive employees.

How many shares of Annexon common stock were granted?

75,600 shares of Annexon common stock were granted.

What is the exercise price per share?

The exercise price per share is $1.77.

What is the vesting schedule for the options?

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.