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

Rhea-AI Summary

Esperion (NASDAQ: ESPR) announced the granting of 50,991 restricted stock units (RSUs) to 21 new employees on April 23, 2021. This was executed under the 2017 Inducement Equity Incentive Plan, aimed at attracting individuals who have not previously worked for the company. Each RSU will vest incrementally, with 25% on the one-year anniversary and the remaining 75% in quarterly installments, contingent upon continued employment. This initiative underscores Esperion's commitment to building a robust team focused on lipid management.

Positive

• Attracts new talent through equity incentives.
• Supports long-term retention with a structured vesting schedule.

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• None.

ANN ARBOR, Mich., April 28, 2021 (GLOBE NEWSWIRE) -- Esperion (NASDAQ: ESPR) today announced that, on April 23, 2021, the Compensation Committee of Esperion’s Board of Directors granted 21 new employees 50,991 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 as to twenty-five 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 is The Lipid Management Company. Our goal is lipid management for everybody, that’s why we work 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. For more information, please visit www.esperion.com and follow us on Twitter at www.twitter.com/EsperionInc.

Contact:
Kaitlyn Brosco
Esperion
corporateteam@esperion.com 

FAQ

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 for entering employment with Esperion.

How many restricted stock units were granted by Esperion on April 23, 2021?

On April 23, 2021, Esperion granted 50,991 restricted stock units to 21 new employees.

What is the vesting schedule for the restricted stock units granted by Esperion?

The RSUs vest 25% on the one-year anniversary and the remaining 75% in twelve quarterly installments.

What are RSUs and why are they important for Esperion?

RSUs are restricted stock units that incentivize employees by granting shares over time, aligning their interests with company performance.

Who are the recipients of the restricted stock units granted by Esperion?

The RSUs were granted to 21 new employees of Esperion.