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

Rhea-AI Summary

Assertio Holdings, Inc. has granted 82,341 restricted stock units (RSUs) and 92,591 stock options to eight newly-hired employees. The RSUs and options were granted as inducements for their employment and are subject to continued service. The options have an exercise price of $5.69 per share and vest equally over three years.

LAKE FOREST, Ill., Aug. 08, 2023 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. (“Assertio” or the “Company”) (NASDAQ: ASRT), a specialty pharmaceutical company offering differentiated products to patients, announced that effective July 31, 2023, the Compensation Committee of the Company’s Board of Directors granted eight newly-hired employees a total of 82,341 restricted stock units (“RSUs”) and 92,591 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 $5.69 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 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

What is the company name that issued the press release?

The company is Assertio Holdings, Inc.

What type of company is Assertio Holdings, Inc.?

Assertio Holdings, Inc. is a specialty pharmaceutical company.

What is the NASDAQ ticker symbol for Assertio Holdings, Inc.?

The NASDAQ ticker symbol for Assertio Holdings, Inc. is ASRT.

What is the purpose of granting restricted stock units (RSUs) and stock options?

The RSUs and options were granted as inducements for newly-hired employees.

What is the exercise price of the stock options?

The exercise price of the stock options is $5.69 per share.

How will the RSUs and options vest?

The RSUs and options will vest equally over three years, starting from the first anniversary of the grant date.