Assembly Biosciences Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Assembly Biosciences, Inc. (Nasdaq: ASMB), a clinical-stage biotechnology company, announced the grant of stock options to two new employees, allowing the purchase of 7,000 shares at an exercise price of $2.45 each. The options have a ten-year term and vest over four years. This action aims to attract talent through financial incentives and follows Nasdaq Listing Rule requirements. Assembly Bio focuses on developing therapies targeting hepatitis B virus, aiming to provide innovative treatments for the 270 million infected globally.
- Granting stock options to new employees may enhance talent acquisition and retention.
- Stock options have a structured vesting period, aligning employee interests with long-term company performance.
- None.
SOUTH SAN FRANCISCO, Calif., Jan. 07, 2022 (GLOBE NEWSWIRE) -- Assembly Biosciences, Inc. (Nasdaq: ASMB), a clinical-stage biotechnology company developing innovative therapeutics targeting hepatitis B virus (HBV) and other viral diseases, today announced grants of stock options to two new employees to purchase an aggregate of 7,000 shares of the Company’s common stock with an exercise price of
The stock options have a ten-year term and vest over four years, with one-fourth vesting on the first anniversary of the date of grant and the remaining three-fourths vesting in approximately equal monthly installments. The stock options are, in all cases, subject to the new employees’ continued service with Assembly Bio through the applicable vesting dates and to acceleration upon the occurrence of certain events as set forth in the award agreements evidencing the stock options. None of the new employees are executive officers.
The stock options were granted outside of Assembly Bio’s stockholder-approved equity incentive plans pursuant to Assembly Bio’s 2020 Inducement Award Plan. The stock option awards were approved by the Compensation Committee of Assembly Bio’s Board of Directors, which is comprised solely of independent directors, as a material inducement to entering into employment with Assembly Bio in accordance with Nasdaq Listing Rule 5635(c)(4), which requires this public announcement.
About Assembly Biosciences
Assembly Bio is a clinical-stage biotechnology company committed to bringing finite and curative therapies to the 270 million people living with hepatitis B virus (HBV) worldwide. A pioneer in the development of a new class of potent, oral core inhibitor drug candidates, Assembly Bio’s approach aims to break the complex viral replication cycle of HBV to free patients from a lifetime of therapy. Assembly Bio’s strategy includes a leading portfolio of more potent, next-generation core inhibitors, proof-of-concept combination studies for HBV cure and research programs focused on the discovery of additional novel antiviral mechanisms for HBV, and other viral diseases. For more information, visit assemblybio.com.
Contacts
Assembly Bio
Lauren Glaser
Senior Vice President, Investor Relations and Corporate Affairs
(415) 521-3828
lglaser@assemblybio.com
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