Ascendis Pharma A/S Announces Share Repurchase Program & Net Settlement of Certain RSUs
Ascendis Pharma A/S (ASND) has announced a comprehensive share management initiative for Q1 2025, involving approximately $25 million in total expenditure. The plan consists of two main components:
1. A Share Repurchase Program of up to $18.25 million in American Depositary Shares (ADSs), which will be executed in compliance with Rules 10b-18 and 10b5-1.
2. A Net Settlement of RSUs involving approximately 450,000 RSUs, requiring about $9 million in cash to cover tax-withholding obligations, which will preserve about 75,000 ADSs as treasury shares.
The combined initiatives aim to preserve approximately 200,000 ADSs as treasury shares. The repurchase program's timing and volume will be based on market conditions and share price, with flexibility to modify or terminate without notice.
Ascendis Pharma A/S (ASND) ha annunciato un'iniziativa completa di gestione delle azioni per il primo trimestre del 2025, con una spesa totale di circa 25 milioni di dollari. Il piano consiste di due componenti principali:
1. Un Programma di Riacquisto di Azioni fino a 18,25 milioni di dollari in American Depositary Shares (ADS), che sarà eseguito in conformità con le Regole 10b-18 e 10b5-1.
2. Un Regolamento Netto di RSU che coinvolge circa 450.000 RSU, richiedendo circa 9 milioni di dollari in contante per coprire le obbligazioni fiscali di ritenuta, il che preserva circa 75.000 ADS come azioni di tesoreria.
Le iniziative combinate mirano a preservare circa 200.000 ADS come azioni di tesoreria. I tempi e il volume del programma di riacquisto saranno basati sulle condizioni di mercato e sul prezzo delle azioni, con flessibilità per modificare o terminare senza preavviso.
Ascendis Pharma A/S (ASND) ha anunciado una iniciativa integral de gestión de acciones para el primer trimestre de 2025, que implica un gasto total de aproximadamente 25 millones de dólares. El plan consta de dos componentes principales:
1. Un Programa de Recompra de Acciones de hasta 18,25 millones de dólares en American Depositary Shares (ADS), que se llevará a cabo de acuerdo con las Reglas 10b-18 y 10b5-1.
2. Un Liquidación Neta de RSUs que involucra aproximadamente 450,000 RSUs, requiriendo unos 9 millones de dólares en efectivo para cubrir las obligaciones fiscales de retención, lo que preservará alrededor de 75,000 ADS como acciones en tesorería.
Las iniciativas combinadas tienen como objetivo preservar aproximadamente 200,000 ADS como acciones en tesorería. El tiempo y el volumen del programa de recompra se basarán en las condiciones del mercado y el precio de las acciones, con flexibilidad para modificar o terminar sin previo aviso.
Ascendis Pharma A/S (ASND)는 2025년 1분기를 위한 포괄적인 주식 관리 계획을 발표했으며, 총 2500만 달러의 비용이 소요될 예정입니다. 이 계획은 두 가지 주요 구성 요소로 이루어져 있습니다:
1. 자사주 매입 프로그램으로, 최대 1825만 달러의 미국 예탁주식(ADS)을 매입할 예정이며, 이는 규칙 10b-18 및 10b5-1을 준수하여 시행됩니다.
2. 약 450,000 RSU를 포함하는 RSU의 순 정산으로, 세금 원천 징수 의무를 충당하기 위해 약 900만 달러의 현금이 필요하며, 이는 약 75,000 ADS를 자산으로 보존하게 됩니다.
결합된 이니셔티브는 약 200,000 ADS를 자산으로 보존하는 것을 목표로 하고 있습니다. 자사주 매입 프로그램의 시기와 규모는 시장 상황과 주가에 따라 달라지며, 사전 통지 없이 수정하거나 종료할 수 있는 유연성이 있습니다.
Ascendis Pharma A/S (ASND) a annoncé une initiative complète de gestion des actions pour le premier trimestre 2025, impliquant environ 25 millions de dollars de dépenses totales. Le plan se compose de deux composants principaux :
1. Un Programme de Rachat d'Actions d'un montant allant jusqu'à 18,25 millions de dollars en American Depositary Shares (ADS), qui sera exécuté conformément aux Règles 10b-18 et 10b5-1.
2. Un Règlement Net des RSU impliquant environ 450 000 RSU, nécessitant environ 9 millions de dollars en liquidités pour couvrir les obligations fiscales de retenue, ce qui permettra de préserver environ 75 000 ADS en tant qu'actions de trésorerie.
Les initiatives combinées visent à préserver environ 200 000 ADS en tant qu'actions de trésorerie. Le timing et le volume du programme de rachat seront basés sur les conditions du marché et le prix des actions, avec une flexibilité pour modifier ou mettre fin sans préavis.
Ascendis Pharma A/S (ASND) hat eine umfassende Aktienmanagement-Initiative für das erste Quartal 2025 angekündigt, die insgesamt etwa 25 Millionen Dollar kosten wird. Der Plan besteht aus zwei Hauptkomponenten:
1. Ein Aktienrückkaufprogramm von bis zu 18,25 Millionen Dollar in American Depositary Shares (ADS), das gemäß den Regeln 10b-18 und 10b5-1 durchgeführt wird.
2. Eine Nettoabwicklung von RSUs, die etwa 450.000 RSUs umfasst und etwa 9 Millionen Dollar in bar erfordert, um die Steuerabzugsverpflichtungen zu decken, wodurch etwa 75.000 ADS als Schatzaktien erhalten bleiben.
Die kombinierten Initiativen zielen darauf ab, etwa 200.000 ADS als Schatzaktien zu erhalten. Der Zeitpunkt und das Volumen des Rückkaufprogramms werden auf der Grundlage der Marktbedingungen und des Aktienkurses festgelegt, mit der Flexibilität, ohne Vorankündigung Änderungen vorzunehmen oder das Programm zu beenden.
- Authorization of $18.25 million share repurchase program indicates confidence in company's value
- Strategic preservation of 200,000 ADSs as treasury shares
- Flexible repurchase terms allow for optimal market timing
- Significant cash outlay of $25 million could impact available working capital
- Tax-withholding obligations for RSUs require $9 million cash expenditure
Insights
This
The decision to net settle RSUs for tax obligations is particularly noteworthy. This approach helps minimize share dilution while efficiently managing employee equity compensation, preserving approximately 75,000 ADSs through the
The implementation through Rules 10b-18 and 10b5-1 trading plans adds a layer of sophistication and protection. These regulatory frameworks provide safe harbor provisions against manipulation allegations and allow for systematic execution even during blackout periods, ensuring consistent implementation regardless of market conditions.
The program's flexible structure, without specific volume or timing commitments, gives management tactical advantages in execution. This optionality is valuable in biotech, where stock prices can be volatile and opportunistic buying windows may emerge. The preservation of treasury shares also provides strategic optionality for future M&A, financing, or partnership transactions without immediate dilution concerns.
– Expected use of approximately
COPENHAGEN, Denmark, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Ascendis Pharma A/S (Nasdaq: ASND) today announced that its Board of Directors has authorized the Company to use approximately
The Board of Directors has authorized the Company to repurchase up to
In addition, the Company plans to apply net settlement of the tax-withholding obligation in certain jurisdictions related to the vesting of approximately 450,000 RSUs for a total cash amount of approximately
Together, the Share Repurchase Program and the Net Settlement of RSUs are intended to preserve approximately 200,000 ADSs held as treasury shares.
The new Share Repurchase Program authorizes the repurchase of up to
About Ascendis Pharma A/S
Ascendis Pharma is applying its innovative TransCon technology platform to build a leading, fully integrated biopharma company focused on making a meaningful difference in patients’ lives. Guided by its core values of Patients, Science, and Passion, Ascendis uses its TransCon technologies to create new and potentially best-in-class therapies. Ascendis is headquartered in Copenhagen, Denmark and has additional facilities in Europe and the United States. Please visit ascendispharma.com to learn more.
Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding Ascendis’ future operations, plans and objectives of management are forward-looking statements. Examples of such statements include, but are not limited to, statements relating to (i) the planned Share Repurchase Program, (ii) the planned Net Settlement of RSUs, (iii) Ascendis’ ability to apply its TransCon technology platform to build a leading, fully integrated biopharma company, and (iv) Ascendis’ use of its TransCon technologies to create new and potentially best-in-class therapies. Ascendis may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in the forward-looking statements and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions, expectations and projections disclosed in the forward-looking statements. Various important factors could cause actual results or events to differ materially from the forward-looking statements that Ascendis makes, including the following: dependence on third party manufacturers, distributors and service providers for Ascendis’ products and product candidates; unforeseen safety or efficacy results in Ascendis’ development programs or on-market products; unforeseen expenses related to commercialization of any approved Ascendis products; unforeseen expenses related to Ascendis’ development programs; unforeseen selling, general and administrative expenses, other research and development expenses and Ascendis’ business generally; delays in the development of its programs related to manufacturing, regulatory requirements, speed of patient recruitment or other unforeseen delays; Ascendis’ ability to obtain additional funding, if needed, to support its business activities; the impact of international economic, political, legal, compliance, social and business factors. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Ascendis’ business in general, see Ascendis’ Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (SEC) on February 12, 2025, and Ascendis’ other future reports filed with, or submitted to, the SEC. Forward-looking statements do not reflect the potential impact of any future licensing, collaborations, acquisitions, mergers, dispositions, joint ventures, or investments that Ascendis may enter into or make. Ascendis does not assume any obligation to update any forward-looking statements, except as required by law.
Ascendis, Ascendis Pharma, the Ascendis Pharma logo, the company logo, and TransCon are trademarks owned by the Ascendis Pharma Group. © February 2025 Ascendis Pharma A/S.
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FAQ
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