Esperion Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

Esperion (NASDAQ: ESPR) announced the grant of 48,780 restricted stock units (RSUs) to 14 new employees on April 28, 2022. These RSUs are part of the 2017 Inducement Equity Incentive Plan, aimed at attracting individuals to the company. Each RSU will vest 25% after one year, with the remaining 75% vesting quarterly over three years, contingent on continued employment. This initiative underlines Esperion’s commitment to innovation in cholesterol management, particularly through its oral, once-daily non-statin LDL-cholesterol lowering drugs.

Positive

• Grant of 48,780 RSUs to 14 new employees to attract talent.
• RSUs structured to incentivize long-term commitment through a vesting schedule.

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• None.

ANN ARBOR, Mich., April 29, 2022 (GLOBE NEWSWIRE) -- Esperion (NASDAQ: ESPR) today announced that, on April 28, 2022, the Compensation Committee of Esperion’s Board of Directors granted 14 new employees 48,780 restricted stock units (RSUs) under Esperion’s 2017 Inducement Equity Incentive Plan.

The 2017 Inducement Equity Incentive Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee or non-employee director of Esperion (or following a bona fide period of non-employment), as an inducement material to such individual's entering into employment with Esperion, pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules.

Each RSU will vest and become exercisable as to 25 percent of the shares on the one-year anniversary of the recipient’s vesting commencement date and will vest and become exercisable as to the remaining 75 percent of the shares in twelve equal quarterly installments at the end of each quarter following such anniversary, in each case, subject to each such employee's continued employment with Esperion on such vesting dates. The RSUs are subject to the terms and conditions of Esperion’s 2017 Inducement Equity Incentive Plan, and the terms and conditions of the RSU agreement covering the grant.

Esperion Therapeutics

Esperion works hard to make our medicines easy to get, easy to take and easy to have. We discover, develop and commercialize innovative medicines and combinations to lower cholesterol, especially for patients whose needs aren’t being met by the status quo. Our entrepreneurial team of industry leaders is inclusive, passionate and resourceful. We are singularly focused on managing cholesterol so you can improve your health easily. Esperion is the leader in the development of convenient oral, once-daily non-statin LDL-cholesterol lowering drugs for patients with high levels of bad cholesterol. For more information, please visit www.esperion.com and follow us on Twitter at www.twitter.com/EsperionInc.

Contact:
Corporate Communications
corporateteam@esperion.com

FAQ

What are the recent developments regarding Esperion's stock options?

Esperion granted 48,780 restricted stock units (RSUs) to 14 new employees as part of its 2017 Inducement Equity Incentive Plan on April 28, 2022.

What is the vesting schedule for the RSUs granted by Esperion?

The RSUs vest 25% after one year and the remaining 75% vests in quarterly installments over three years.

How does Esperion's RSU grant impact its talent acquisition?

The RSU grant is aimed at attracting new talent to Esperion, providing an incentive for candidates to join.

What is the purpose of Esperion's 2017 Inducement Equity Incentive Plan?

The plan is designed to grant equity awards to new employees as an inducement to join the company.