Arcutis Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Arcutis Biotherapeutics (Nasdaq: ARQT) announced the grant of equity incentives to five new employees. The compensation package includes 50,000 restricted stock units and options to purchase 50,000 shares of common stock at $8.67 per share. The restricted stock units vest over four years with 25% annual vesting, while stock options vest 25% after one year and the remainder monthly over three years. The grants were approved under the company's 2022 Inducement Plan and comply with Nasdaq Listing Rule 5635(c)(4).
Arcutis Biotherapeutics (Nasdaq: ARQT) ha annunciato l'assegnazione di incentivi azionari a cinque nuovi dipendenti. Il pacchetto di compenso include 50.000 unità di azioni vincolate e opzioni per l'acquisto di 50.000 azioni di azioni ordinarie a $8,67 per azione. Le unità di azioni vincolate si maturano nell'arco di quattro anni con un vesting annuale del 25%, mentre le opzioni su azioni maturano il 25% dopo un anno e il resto mensilmente per tre anni. Le concessioni sono state approvate nell'ambito del Piano d'Induzione 2022 dell'azienda e sono conformi alla Regola di quotazione 5635(c)(4) del Nasdaq.
Arcutis Biotherapeutics (Nasdaq: ARQT) anunció la concesión de incentivos en acciones a cinco nuevos empleados. El paquete de compensación incluye 50,000 unidades de acciones restringidas y opciones para comprar 50,000 acciones de acciones comunes a $8.67 por acción. Las unidades de acciones restringidas se consolidan a lo largo de cuatro años con un 25% de consolidación anual, mientras que las opciones de acciones se consolidan un 25% después de un año y el resto mensualmente durante tres años. Las concesiones fueron aprobadas bajo el Plan de Inducción 2022 de la empresa y cumplen con la Regla de Cotización 5635(c)(4) de Nasdaq.
Arcutis Biotherapeutics (Nasdaq: ARQT)는 다섯 명의 신입 직원에게 주식 인센티브를 부여했다고 발표했습니다. 보상 패키지에는 50,000 개의 제한된 주식 단위와 주당 $8.67에 50,000 주의 보통주를 구매할 수 있는 옵션이 포함됩니다. 제한된 주식 단위는 4년에 걸쳐 연간 25%가 귀속되며, 주식 옵션은 1년 후 25%가 귀속되고 나머지는 3년에 걸쳐 매월 귀속됩니다. 이 보상은 회사의 2022 인센티브 계획에 따라 승인되었으며, Nasdaq 상장 규칙 5635(c)(4)을 준수합니다.
Arcutis Biotherapeutics (Nasdaq: ARQT) a annoncé l'octroi d'incitations en actions à cinq nouveaux employés. Le package de rémunération comprend 50 000 unités d'actions restreintes et des options d'achat de 50 000 actions ordinaires à 8,67 $ par action. Les unités d'actions restreintes acquièrent de la valeur sur une période de quatre ans avec un vesting annuel de 25 %, tandis que les options d'actions acquièrent 25 % après un an, le reste étant mensuel sur trois ans. Les attributions ont été approuvées dans le cadre du Plan d'incitation 2022 de l'entreprise et sont conformes à la Règle de cotation 5635(c)(4) de Nasdaq.
Arcutis Biotherapeutics (Nasdaq: ARQT) kündigte die Gewährung von Eigenkapitalanreizen an fünf neue Mitarbeiter an. Das Vergütungspaket umfasst 50.000 eingeschränkte Aktieneinheiten und Optionen zum Kauf von 50.000 Stammaktien zu einem Preis von 8,67 $ pro Aktie. Die eingeschränkten Aktieneinheiten erwerben über einen Zeitraum von vier Jahren, mit einer jährlichen Erhöhung von 25%, während die Aktienoptionen nach einem Jahr zu 25% und der Rest monatlich über drei Jahre zugeteilt werden. Die Gewährungen wurden im Rahmen des Unternehmensplans 2022 genehmigt und entsprechen der Nasdaq-Börsennotierungsregel 5635(c)(4).
- Company demonstrates ability to attract new talent with competitive equity compensation packages
- Stock options granted with exercise price at market value ($8.67), aligning employee interests with shareholders
- Potential dilution of existing shareholders through new equity grants of 100,000 total shares
WESTLAKE VILLAGE, Calif., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT), a commercial-stage biopharmaceutical company focused on developing meaningful innovations in immuno-dermatology, today reported the grant of an aggregate of 50,000 restricted stock units of Arcutis’ common stock as well as options to purchase an aggregate of 50,000 shares of Arcutis’ common stock to five newly hired employees. These awards were approved by the Compensation Committee of Arcutis’ Board of Directors and granted under the Arcutis Biotherapeutics, Inc. 2022 Inducement Plan, with a grant date of November 1, 2024, as an inducement material to the new employees entering into employment with Arcutis, in accordance with Nasdaq Listing Rule 5635(c)(4).
The restricted stock units vest over four years, with 25 percent vesting on each annual anniversary of the vesting commencement date, subject to the employee being continuously employed by Arcutis as of such vesting dates. The stock options vest over four years, with 25 percent vesting on the one-year anniversary of the vesting commencement date for such employee and the remainder vesting in 36 equal monthly installments over the following three years, subject to the employee being continuously employed by Arcutis as of such vesting dates. The stock options have a ten-year term and an exercise price of
Arcutis is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).
About Arcutis
Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT) is a commercial-stage medical dermatology company that champions meaningful innovation to address the urgent needs of individuals living with immune-mediated dermatological diseases and conditions. With a commitment to solving the most persistent patient challenges in dermatology, Arcutis has a growing portfolio including three FDA approved products that harness our unique dermatology development platform coupled with our dermatology expertise to build differentiated therapies against biologically validated targets. Arcutis’ dermatology development platform includes a robust pipeline with multiple clinical programs for a range of inflammatory dermatological conditions including scalp and body psoriasis, atopic dermatitis, and alopecia areata. For more information, visit www.arcutis.com or follow Arcutis on LinkedIn, Facebook, Instagram, and X.
Forward-Looking Statements
Arcutis cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the Company’s current beliefs and expectations. These statements involve substantial known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements and you should not place undue reliance on our forward-looking statements. Risks and uncertainties that may cause our actual results to differ include risks inherent in the clinical development process and regulatory approval process, the timing of regulatory filings, the timing and expenses of commercialization efforts, and our ability to defend our intellectual property. For a further description of the risks and uncertainties applicable to our business, see the “Risk Factors” section of our Form 10-K filed with U.S. Securities and Exchange Commission (SEC) on February 27, 2024, as well as any subsequent filings with the SEC. You should not place undue reliance on any forward-looking statements in this press release. We undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Contacts:
Media
Amanda Sheldon, Head of Corporate Communications
media@arcutis.com
Investors
Latha Vairavan, Vice President, Finance and Corporate Controller
ir@arcutis.com
FAQ
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