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

Rhea-AI Summary

Esperion (NASDAQ: ESPR) announced on August 7, 2024, the granting of 66,800 restricted stock units (RSUs) to 18 new employees under its 2017 Inducement Equity Incentive Plan. This plan is exclusively used for equity awards to individuals who were not previously employees or non-employee directors of Esperion, as an inducement for employment.

The RSUs will vest over four years, with 25% vesting on the one-year anniversary of the recipient's vesting commencement date, and the remaining 75% vesting in twelve equal quarterly installments thereafter. Vesting is subject to continued employment with Esperion. The RSUs are governed by the terms and conditions of Esperion's 2017 Inducement Equity Incentive Plan and the RSU agreement covering the grant.

Positive

• Esperion is attracting new talent with equity incentives
• The company is expanding its workforce with 18 new employees

Negative

• Potential dilution of existing shareholders due to new RSU grants

ANN ARBOR, Mich., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Esperion (NASDAQ: ESPR) today announced that on August 7, 2024, the Company granted 18 new employees 66,800 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
At Esperion, we discover, develop, and commercialize innovative medicines to help improve outcomes for patients with or at risk for cardiovascular and cardiometabolic diseases. The status quo is not meeting the health needs of millions of people with high cholesterol – that is why our team of passionate industry leaders is breaking through the barriers that prevent patients from reaching their goals. Providers are moving toward reducing LDL-cholesterol levels as low as possible, as soon as possible; we provide the next steps to help get patients there. Because when it comes to high cholesterol, getting to goal is not optional. It is our life’s work. For more information, visit esperion.com and esperionscience.com and follow us on Twitter at twitter.com/EsperionInc.

Esperion Contact Information:
Investors:
Alina Venezia
investorrelations@esperion.com
(734) 887-3903

Media:
Tiffany Aldrich
corporateteam@esperion.com
(616) 443-8438

FAQ

How many restricted stock units (RSUs) did Esperion (ESPR) grant on August 7, 2024?

Esperion (ESPR) granted 66,800 restricted stock units (RSUs) to 18 new employees on August 7, 2024.

What is the vesting schedule for the RSUs granted by Esperion (ESPR)?

The RSUs vest 25% on the one-year anniversary of the recipient's vesting commencement date, with the remaining 75% vesting in twelve equal quarterly installments thereafter, subject to continued employment.

Under which plan did Esperion (ESPR) grant the new RSUs?

Esperion (ESPR) granted the RSUs under its 2017 Inducement Equity Incentive Plan.

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

The plan is used exclusively for granting equity awards to individuals who were not previously employees or non-employee directors of Esperion, as an inducement for employment.