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

Rhea-AI Summary

Assertio Holdings, a pharmaceutical company listed on NASDAQ under the ticker ASRT, announced on July 9, 2024, the issuance of inducement grants to four new employees. Effective from July 1, 2024, these grants comprise 44,575 restricted stock units (RSUs) and 142,910 stock options. The inducement grants are made in accordance with NASDAQ Listing Rule 5635(c)(4) and are intended to encourage the new hires' entry into the company. The RSUs and options have terms similar to those in Assertio's 2014 Omnibus Incentive Plan. The stock options carry an exercise price of $1.19 per share, the closing price on the grant date, and will vest over three years starting from the first anniversary of the grant date.

Positive

• Issuance of 44,575 restricted stock units (RSUs) and 142,910 stock options to new employees.
• Grants made to attract and retain talent, aligning with NASDAQ Listing Rule 5635(c)(4).
• Stock options priced at $1.19 per share, equal to the market price on the grant date.
• Vesting schedule aligns employee interests with long-term company performance.

Negative

• None.

LAKE FOREST, Ill., July 09, 2024 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. (“Assertio” or the “Company”) (NASDAQ: ASRT), a pharmaceutical company with comprehensive commercial capabilities offering differentiated products to patients, announced that effective July 1, 2024, the Compensation Committee of the Company’s Board of Directors granted four newly-hired employees a total of 44,575 restricted stock units (“RSUs”) and 142,910 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 $1.19 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 commercial pharmaceutical company offering differentiated products to patients. We have built our commercial portfolio through acquisition or licensing of approved products. Our comprehensive commercial capabilities include marketing through both a sales force and a non-personal promotion model, market access through payor contracting, and trade and distribution. 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 risks related to our ability to realize the benefits from our operating model, deliver or execute on our business strategy, including to expand or diversify our asset base and market reach and drive cash flows and growth, 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.

Investor Contact:

Matt Kreps, Managing Director
Darrow Associates
M: 214-597-8200
mkreps@darrowir.com

FAQ

What did Assertio Holdings announce on July 9, 2024?

Assertio Holdings announced the issuance of inducement grants to four newly-hired employees.

How many restricted stock units did Assertio grant on July 1, 2024?

Assertio granted 44,575 restricted stock units (RSUs) on July 1, 2024.

What is the exercise price of the stock options granted by Assertio on July 1, 2024?

The exercise price of the stock options is $1.19 per share.

When will the RSUs and stock options granted by Assertio vest?

The RSUs and stock options will vest equally annually over three years, beginning on the first anniversary of the grant date.