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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 (NASDAQ: ARWR) has approved inducement grants for 34 new employees on July 1, 2022. The grants comprise a total of 138,000 restricted stock units, with 70,000 units awarded to the new chief commercial officer, Tracie Oliver. These grants are outside the company's stockholder-approved equity incentive plans and will vest over four years. Arrowhead focuses on developing RNA interference-based therapies to treat severe diseases by silencing problematic genes.
Positive
Inducement grants of 138,000 restricted stock units approved for 34 new employees.
Significant grant of 70,000 units to Tracie Oliver, indicating confidence in new leadership.
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 July 1, 2022, the Compensation Committee of the Company’s Board of Directors approved “inducement” grants to 34 new employees under Rule 5635(c)(4) of the NASDAQ Listing Rules. The grants entitle employees, in aggregate, to receive up to 138,000 restricted stock units, including 70,000 restricted stock units granted to Tracie Oliver, the Company’s new chief commercial officer. 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.
