An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Aurinia Reports New Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Aurinia Pharmaceuticals (NASDAQ:AUPH) announced the granting of inducement stock options and restricted stock units (RSUs) to four new employees. A total of 20,800 stock options priced at $7.52 per share and 12,500 RSUs were granted, effective October 3, 2022. The stock options vest over three years, with one-third vesting after one year, while the RSUs vest in three annual installments. This opportunity is aligned with Nasdaq Listing Rule 5635(c)(4) and aims to attract talent critical to the company’s mission of addressing autoimmune diseases.
Positive
Inducement stock options granted to attract new talent.
Stock options have a long ten-year term and structured vesting schedule.
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 4 new employees inducement stock options to purchase an aggregate of 20,800 common shares, at a per share exercise price of $7.52, the closing price of Aurinia's common stock on September 30, 2022, and an aggregate of 12,500 inducement restricted stock units (RSUs). The inducement stock options and RSUs have a grant date of October 3, 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.
What stock options were granted by Aurinia Pharmaceuticals on October 3, 2022?
Aurinia Pharmaceuticals granted 20,800 stock options at an exercise price of $7.52 per share and 12,500 RSUs to four new employees on October 3, 2022.
How long is the term and vesting schedule for Aurinia's stock options?
The stock options granted by Aurinia have a ten-year term and vest over three years, with one-third vesting on the one-year anniversary and the remainder vesting in monthly installments.
What is the purpose of granting inducement stock options at Aurinia Pharmaceuticals?
The inducement stock options are granted to attract new employees and are in accordance with Nasdaq Listing Rule 5635(c)(4).
