Eiger BioPharmaceuticals Reports Inducement Grant Under Nasdaq Listing Rule 5635(C)(4)
Eiger BioPharmaceuticals (Nasdaq: EIGR) announced that its Compensation Committee has granted stock options totaling 290,000 shares to two newly hired employees. These options are part of the 2021 Inducement Plan, with an exercise price of $6.87, reflecting the closing stock price on April 29, 2022. Vesting occurs over four years, starting with 25% after one year, followed by monthly vesting for the remaining shares. This move aligns with Nasdaq Listing Rule 5635(c)(4) and highlights Eiger's commitment to incentivizing talent in its biopharmaceutical initiatives.
- Granting of 290,000 stock options indicates strong commitment to attracting talent.
- Options have a ten-year term, offering significant potential upside for employees.
- None.
PALO ALTO, Calif., April 29, 2022 /PRNewswire/ -- Eiger BioPharmaceuticals, Inc. (Nasdaq: EIGR), a commercial-stage biopharmaceutical company focused on the development of innovative therapies to treat and cure hepatitis delta virus (HDV) and other serious diseases, today reported that the Compensation Committee of Eiger's Board of Directors granted stock options to purchase an aggregate of 290,000 shares of Eiger's common stock to two newly hired employees. The stock options were granted under the Eiger BioPharmaceuticals, Inc. 2021 Inducement Plan with a grant date of April 29, 2022, as an inducement material to the new employee entering into employment with Eiger, in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock options vest over four years, with 25 percent vesting on the first anniversary of the vesting commencement date for each employee and the remainder vesting in 36 equal installments over the following three years, subject to each employee being continuously employed by Eiger as of such vesting dates. The stock options have a ten-year term and an exercise price of
Eiger is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).
About Eiger
Eiger is a commercial-stage biopharmaceutical company focused on the development of innovative therapies to treat and cure hepatitis delta virus (HDV) and other serious diseases. The Eiger HDV platform includes two first-in-class therapies in Phase 3 that target critical host processes involved in viral replication. Eiger is also developing peginterferon lambda as a therapeutic for COVID-19 and is planning to submit an emergency use authorization application to FDA based on positive results from the investigator sponsored Phase 3 TOGETHER study.
All five Eiger rare disease programs have been granted FDA breakthrough therapy designation: lonafarnib and peginterferon lambda for HDV, Zokinvy for progeria, and avexitide for both HI and PBH.
For additional information about Eiger and its clinical programs, please visit www.eigerbio.com.
CONTACTS:
Investors:
Sylvia Wheeler
Wheelhouse Life Science Advisors
swheeler@wheelhouselsa.com
Media:
Sarah Mathieson
SVP, Corporate Affairs
smathieson@eigerbio.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/eiger-biopharmaceuticals-reports-inducement-grant-under-nasdaq-listing-rule-5635c4-301536639.html
SOURCE Eiger BioPharmaceuticals, Inc.
FAQ
What stock options did Eiger BioPharmaceuticals grant?
What is the exercise price of EIGR stock options?
How long is the vesting period for EIGR stock options?
What is the significance of the stock options granted by EIGR?
