Assertio Holdings, Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

Assertio Holdings, Inc. (ASRT) granted 16,498 restricted stock units and 18,654 stock options to two newly-hired employees, with the options having an exercise price of $1.14 per share and vesting equally annually over three years.

LAKE FOREST, Ill., Jan. 05, 2024 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. (“Assertio” or the “Company”) (NASDAQ: ASRT), a specialty pharmaceutical company that acquires, commercializes and develops safe and effective therapies that make a difference in the lives of patients, announced that effective January 2, 2024, the Compensation Committee of the Company’s Board of Directors granted two newly-hired employee a total of 16,498 restricted stock units (“RSUs”) and 18,654 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 $1.14 per share, which is equal to the closing price of Assertio’s common stock on the grant date. The RSUs and options vest equally annually over three years beginning on the first anniversary of the grant date.

About Assertio
Assertio is a specialty pharmaceutical company that acquires, commercializes and develops safe and effective therapies that make a difference in the lives of patients. Utilizing a proprietary digital-focused commercialization approach we can promote products across multiple therapeutic categories. We strive to lead by example, embrace change, and make a positive impact in our community while creating better experiences for our employees, partners and shareholders. To learn more about Assertio 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

What did Assertio Holdings, Inc. (ASRT) announce on January 5, 2024?

Assertio Holdings, Inc. (ASRT) announced that the Compensation Committee of the Company’s Board of Directors granted two newly-hired employees a total of 16,498 restricted stock units and 18,654 stock options.

What is the exercise price of the stock options granted by Assertio Holdings, Inc. (ASRT)?

The stock options granted by Assertio Holdings, Inc. (ASRT) have an exercise price of $1.14 per share.

How do the RSUs and options granted by Assertio Holdings, Inc. (ASRT) vest?

The RSUs and options granted by Assertio Holdings, Inc. (ASRT) vest equally annually over three years beginning on the first anniversary of the grant date.