Assembly Biosciences Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Assembly Biosciences, Inc. (ASMB) announced the granting of stock options to three new employees, totaling 25,000 shares at an exercise price of $4.16 per share. This measure is designed to attract talent, with options vesting over four years and subject to continued employment. The options were approved by the Compensation Committee, adhering to Nasdaq Listing Rule 5635(c)(4). Assembly Bio is focused on innovative therapies for hepatitis B virus (HBV), aiming to provide curative solutions to the estimated 270 million people affected globally.

Positive

• Stock options granted to attract new talent, totaling 25,000 shares.
• Exercise price set at $4.16, aligning with recent market performance.
• Options vesting over four years enhances retention and commitment.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., May 07, 2021 (GLOBE NEWSWIRE) -- Assembly Biosciences, Inc. (Nasdaq: ASMB), a clinical-stage biotechnology company developing innovative therapeutics targeting hepatitis B virus (HBV), today announced grants of stock options to three new employees to purchase an aggregate of 25,000 shares of the Company’s common stock with an exercise price of $4.16 per share, the closing price of Assembly Bio’s common stock on May 3, 2021. The stock options were granted as material inducements to the new employees to accept the Company’s offers of employment.

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 2017 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 toward cure includes a leading portfolio of more potent, next-generation core inhibitors, proof-of-concept combination studies and a research program focused on the discovery of novel HBV targets. 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

FAQ

What stock options were granted by Assembly Biosciences for new employees?

Assembly Biosciences granted stock options totaling 25,000 shares at an exercise price of $4.16 per share to three new employees.

How long is the vesting period for the stock options at Assembly Biosciences?

The stock options have a vesting period of four years, with one-fourth vesting on the first anniversary.

What is the purpose of the stock options granted by ASMB?

The stock options were granted as material inducements to the new employees to accept employment offers with Assembly Biosciences.

Which Nasdaq listing rule was followed for the stock options granted by ASMB?

The stock options were granted in accordance with Nasdaq Listing Rule 5635(c)(4).