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Aurinia Reports New Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) announced the grant of inducement stock options and restricted stock units (RSUs) to two new employees. A total of 36,220 stock options were issued, with an exercise price of $5.10, alongside 22,120 RSUs, all dated December 5, 2022. The options vest over three years, while the RSUs vest in equal annual installments over three years. This grant aligns with Nasdaq Listing Rule 5635(c)(4) and aims to attract talent to support the company's mission in autoimmune disease therapeutics.
Positive
Issuance of stock options and RSUs supports talent acquisition.
Stock options have a ten-year term, enhancing employee retention incentives.
Negative
None.
VICTORIA, British Columbia--(BUSINESS WIRE)--
Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) (Aurinia or the Company), a biopharmaceutical company committed to delivering therapeutics that change the course of autoimmune disease, announced that the Company’s Compensation Committee granted 2 new employees inducement stock options to purchase an aggregate of 36,220 common shares, at a per share exercise price of $5.10, the closing price of Aurinia's common stock on December 2, 2022, and an aggregate of 22,120 inducement restricted stock units (RSUs). The inducement stock options and RSUs have a grant date of December 5, 2022. The stock options and RSUs were granted as inducements material to the new employees entering employment with Aurinia in accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement stock options have a ten-year term and vest over three years with one-third of the shares vesting on the twelve month anniversary from the grant date, and the remaining options vesting in twenty-four equal monthly installments thereafter.
The inducement RSUs shall vest in three equal annual installments on the first, second and third anniversary of the grant date.
About Aurinia
Aurinia Pharmaceuticals is a fully integrated biopharmaceutical company focused on delivering therapies to treat targeted patient populations that are impacted by serious diseases with a high unmet medical need. In January 2021, the Company introduced LUPKYNIS® (voclosporin), the first FDA-approved oral therapy dedicated for the treatment of adult patients with active lupus nephritis. The Company’s head office is in Victoria, British Columbia, its U.S. commercial office is in Rockville, Maryland. The Company focuses its development efforts globally.
