Assertio Holdings, Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
Assertio Holdings, Inc. (NASDAQ: ASRT) announced the granting of 20,542 restricted stock units (RSUs) and 24,018 stock options to two new employees effective April 3, 2023. This action complies with NASDAQ Listing Rule 5635(c)(4), intended as an inducement for their entry into employment. The options, priced at $6.11 per share, match the closing price of Assertio's stock on the grant date. The RSUs and options will vest equally over three years, starting from one year after the grant date. Assertio is a leading pharmaceutical company focusing on differentiated products across neurology, hospital, and pain/inflammation sectors, with growth through licensing, mergers, and acquisitions. Investors should note the forward-looking statements regarding future performance are subject to risks and uncertainties.
- Grant of 20,542 RSUs and 24,018 stock options to attract talent.
- Options exercise price aligns with market closing price, indicating favorable entry.
- Potential dilution of shares due to the issuance of new stock options and RSUs.
LAKE FOREST, Ill., April 07, 2023 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. (“Assertio” or the “Company”) (NASDAQ: ASRT), a specialty pharmaceutical company offering differentiated products to patients, announced that effective April 3, 2023, the Compensation Committee of the Company’s Board of Directors granted two newly-hired employees a total of 20,542 restricted stock units (“RSUs”) and 24,018 stock options (“options”).
The RSUs and options were granted as inducements material to each such individual’s entry into employment with Assertio in accordance with NASDAQ Listing Rule 5635(c)(4). The RSUs and options are subject to such employees’ continued service relationship with the Company, terms and conditions substantially identical to those set forth in the Company's 2014 Omnibus Incentive Plan and the award agreements pursuant to which they were granted. The options have an exercise price of
About Assertio
Assertio is a leading commercial pharmaceutical company bringing differentiated products to patients. The Company has a robust portfolio of branded prescription products in three areas: neurology, hospital, and pain and inflammation. Assertio has grown through business development including licensing, mergers, and acquisitions. To learn more visit www.assertiotx.com.
Forward Looking Statements
Statements in this communication that are not historical facts are forward-looking statements that reflect Assertio's current expectations, assumptions and estimates of future performance and economic conditions. These forward-looking statements are made in reliance on the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to, among other things, future events or the future performance or operations of Assertio, including our ability to realize the benefits from our operating model, successfully integrate new assets and explore new business development initiatives. All statements other than historical facts may be forward-looking statements and can be identified by words such as "anticipate," "believe," "could," "design," "estimate," "expect," "forecast," "goal," "guidance," "imply," "intend," "may", "objective," "opportunity," "outlook," "plan," "position," "potential," "predict," "project," "prospective," "pursue," "seek," "should," "strategy," "target," "would," "will," "aim" or other similar expressions that convey the uncertainty of future events or outcomes and are used to identify forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the control of Assertio, including the risks described in Assertio's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the U.S. Securities and Exchange Commission ("SEC") and in other filings Assertio makes with the SEC from time to time.
Investors and potential investors are urged not to place undue reliance on forward-looking statements in this communication, which speak only as of this date. While Assertio may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to update or revise any forward-looking-statements contained in this press release whether as a result of new information or future events, except as may be required by applicable law. Nothing contained herein constitutes or will be deemed to constitute a forecast, projection or estimate of the future financial performance or expected results of Assertio.
Investor Contact:
Matt Kreps
Managing Director
Darrow Associates
Austin, TX
M: 214-597-8200
mkreps@darrowir.com
FAQ
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