Ardelyx, Inc. Reports Employment Inducement Grants
Ardelyx, Inc. (Nasdaq: ARDX) announced on April 10, 2023, that its compensation committee granted stock options and Restricted Stock Units (RSUs) to seven new non-executive employees. A total of 238,426 shares in stock options and 89,250 RSUs were awarded, with the exercise price set at $4.26 per share, corresponding to the company's closing stock price on the grant date. The stock options will vest over four years, while the RSUs will also vest over the same period, with varying percentages vesting at specified intervals. This move is in compliance with Nasdaq Listing Rule 5635(c)(4) and is intended to incentivize new employees.
Ardelyx is focused on developing innovative medicines, including its FDA-approved product IBSRELA and ongoing studies for its candidates targeting kidney-related health issues.
- Granting stock options and RSUs may enhance employee retention and motivation.
- Compliance with Nasdaq regulations indicates good governance practices.
- None.
WALTHAM, Mass., April 13, 2023 (GLOBE NEWSWIRE) -- Ardelyx, Inc. (Nasdaq: ARDX), a biopharmaceutical company founded with a mission to discover, develop and commercialize innovative, first-in-class medicines that meet significant unmet medical needs, today announced that on April 10, 2023, the compensation committee of the company’s board of directors granted three new non-executive employees options to purchase an aggregate of 238,426 shares of the company’s common stock, and granted four new non-executive employees an aggregate of 89,250 Restricted Stock Units (RSUs). Each stock option has an exercise price per share equal to
Each stock option vests over four years, with
About Ardelyx, Inc.
Ardelyx was founded with a mission to discover, develop and commercialize innovative first-in-class medicines that meet significant unmet medical needs. Ardelyx’s first approved product, IBSRELA® (tenapanor) is available in the United States and Canada. Ardelyx is developing XPHOZAH® (tenapanor), a novel product candidate to control serum phosphorus in adult patients with CKD on dialysis, which has completed three successful Phase 3 trials. Ardelyx has a Phase 2 potassium lowering compound, RDX013, for the potential treatment of elevated serum potassium, or hyperkalemia, a problem among certain patients with kidney and/or heart disease and an early-stage program in metabolic acidosis, a serious electrolyte disorder in patients with CKD. Ardelyx has established agreements with Kyowa Kirin in Japan, Fosun Pharma in China and Knight Therapeutics in Canada for the development and commercialization of tenapanor in their respective territories. For more information, please visit https://ardelyx.com/ and connect with us on Twitter, LinkedIn and Facebook.
Investor and Media Contacts:
Caitlin Lowie
clowie@ardelyx.com
Kimia Keshtbod
kkeshtbod@ardelyx.com
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