Apellis Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Apellis Pharmaceuticals (APLS) announced the approval of equity inducement awards for a new employee, effective January 3, 2022. The award consists of options to purchase 60,000 shares at an exercise price of $48.77 and 20,000 restricted stock units (RSUs). The options will vest over four years, with 25% vesting on the first anniversary. This action is aligned with Nasdaq Listing Rule 5635(c)(4) and aims to attract talent by providing long-term incentive compensation.

Positive

• Equity inducement awards aligned with Nasdaq regulations.
• Attracts talent through substantial stock options and RSUs.

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• None.

WALTHAM, Mass., Jan. 06, 2022 (GLOBE NEWSWIRE) -- Apellis Pharmaceuticals, Inc. (Nasdaq: APLS), a global biopharmaceutical company and leader in complement, today announced that the company approved the grant of equity awards to one new employee with a grant date of January 3, 2022, as equity inducement awards outside of the company's 2017 Stock Incentive Plan (but under the terms of the 0 Inducement Stock Incentive Plan) and material to the employee’s acceptance of employment with the company. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).

The employee received options to purchase 60,000 shares of Apellis common stock and 20,000 restricted stock units (RSUs). The options have an exercise price of $48.77, which is equal to the closing price of Apellis common stock on January 3, 2022, the grant date of the options. One-fourth of the shares underlying the employee options will vest on the one-year anniversary of the grant date and thereafter 1/48th of the shares underlying the employee options will vest monthly, such that the shares underlying the options granted to the employee will be fully vested on the fourth anniversary of the grant date, subject to the employee’s continued employment with Apellis on such vesting dates. Each RSU will vest as to 25% of the shares underlying the RSU award on the first anniversary of the grant date and as to an additional 25% of the shares underlying the RSU award annually thereafter, subject to each such employee's continued employment on each vesting date.

About Apellis
Apellis Pharmaceuticals, Inc. is a global biopharmaceutical company that is committed to leveraging courageous science, creativity, and compassion to deliver life-changing therapies. Leaders in targeted C3 therapies, we aim to develop transformative therapies for a broad range of debilitating diseases that are driven by excessive activation of the complement cascade, including those within hematology, ophthalmology, nephrology, and neurology. For more information, please visit www.apellis.com.

Apellis Forward-Looking Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the implications of preliminary clinical data. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: whether the company’s clinical trials will be fully enrolled and completed when anticipated; whether preliminary or interim results from a clinical trial will be predictive of the final results of the trial; whether results obtained in preclinical studies and clinical trials will be indicative of results that will be generated in future clinical trials; whether pegcetacoplan will successfully advance through the clinical trial process on a timely basis, or at all; whether the results of the company’s clinical trials will warrant regulatory submissions and whether pegcetacoplan will receive approval from the FDA or equivalent foreign regulatory agencies for GA, PNH, CAD, C3G, IC-MPGN, ALS or any other indication when expected or at all; whether, if Apellis’ products receive approval, they will be successfully distributed and marketed; and other factors discussed in the “Risk Factors” section of Apellis’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 2, 2020 and the risks described in other filings that Apellis may make with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Apellis specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Investor Contact:
Meredith Kaya
meredith.kaya@apellis.com
617.599.8178 

FAQ

What employee benefits were announced by Apellis Pharmaceuticals on January 6, 2022?

Apellis announced equity inducement awards for a new employee, including options for 60,000 shares and 20,000 restricted stock units (RSUs).

What are the details of the stock options granted by Apellis Pharmaceuticals?

The stock options have an exercise price of $48.77, equal to the closing price on the grant date, January 3, 2022, and will vest over four years.

How will the restricted stock units (RSUs) vest for the new employee at Apellis?

The RSUs will vest as to 25% on the first anniversary and an additional 25% annually thereafter, contingent on continued employment.

Under which Nasdaq rule did Apellis Pharmaceuticals approve the equity awards?

The equity awards were approved under Nasdaq Listing Rule 5635(c)(4).