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Arrowhead Pharmaceuticals Reports Inducement Grants under NASDAQ Listing Rule 5635(c)(4)
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Arrowhead Pharmaceuticals (NASDAQ: ARWR) announced on December 9, 2022 the approval of inducement grants for 35 new employees, totaling up to 84,000 restricted stock units. These grants, approved by the Compensation Committee, are issued outside of the company’s stockholder-approved equity incentive plans and will vest annually over four years. Arrowhead develops innovative therapies for intractable diseases through RNA interference, targeting the genes responsible for these conditions.
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PASADENA, Calif.--(BUSINESS WIRE)--
Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) today announced that as an inducement to entering into employment with the Company, on December 9, 2022, the Compensation Committee of the Company’s Board of Directors approved “inducement” grants to 35 new employees under Rule 5635(c)(4) of the NASDAQ Listing Rules. The grants entitle employees, in aggregate, to receive up to 84,000 restricted stock units. The grants are outside the Company’s stockholder-approved equity incentive plans and vest annually over four years.
About Arrowhead Pharmaceuticals
Arrowhead Pharmaceuticals develops medicines that treat intractable diseases by silencing the genes that cause them. Using a broad portfolio of RNA chemistries and efficient modes of delivery, Arrowhead therapies trigger the RNA interference mechanism to induce rapid, deep, and durable knockdown of target genes. RNA interference, or RNAi, is a mechanism present in living cells that inhibits the expression of a specific gene, thereby affecting the production of a specific protein. Arrowhead’s RNAi-based therapeutics leverage this natural pathway of gene silencing.
What did Arrowhead Pharmaceuticals announce on December 9, 2022?
On December 9, 2022, Arrowhead Pharmaceuticals announced the approval of inducement grants for 35 new employees totaling up to 84,000 restricted stock units.
What are the details of the restricted stock units granted by Arrowhead Pharmaceuticals?
The restricted stock units granted to employees will vest annually over four years and are outside the company's stockholder-approved equity incentive plans.
What is the significance of the inducement grants for Arrowhead Pharmaceuticals?
The inducement grants are designed to attract new talent to Arrowhead Pharmaceuticals as part of their employee compensation strategy.
