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Arrowhead Pharmaceuticals Reports Inducement Grants under NASDAQ Listing Rule 5635(c)(4)
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
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Rhea-AI Summary
Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) announced on October 4, 2022, the approval of inducement grants for 39 new employees, totaling up to 117,500 restricted stock units. This includes 30,000 restricted stock units awarded to Peter Carignan, the new vice president of clinical operations. The grants, which fall under NASDAQ Listing Rules, are outside existing shareholder-approved equity incentive plans and will vest over four years.
Positive
Inducement grants for 39 new employees signal growth and expansion.
Potential increase in productivity with the addition of the new vice president of clinical operations.
Negative
None.
PASADENA, Calif.--(BUSINESS WIRE)--
Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) today announced that as an inducement to entering into employment with the Company, on October 4, 2022, the Compensation Committee of the Company’s Board of Directors approved “inducement” grants to 39 new employees under Rule 5635(c)(4) of the NASDAQ Listing Rules. The grants entitle employees, in aggregate, to receive up to 117,500 restricted stock units, including 30,000 restricted stock units granted to Peter Carignan, the Company’s new vice president of clinical operations. 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.
