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

Rhea-AI Summary

Esperion announced on December 9, 2022, the granting of 5,600 restricted stock units (RSUs) to two new employees under its 2017 Inducement Equity Incentive Plan. This plan is designed for individuals who are new hires and was established in accordance with NASDAQ Listing Rules. The RSUs will vest over a four-year period, with 25% vesting on the one-year anniversary of the grant and the remaining 75% vesting quarterly thereafter, contingent on continued employment. Esperion focuses on developing innovative cholesterol-lowering therapies.

Positive

• Granting of RSUs may attract and retain talent.
• Focus on innovative cholesterol-lowering therapies aligns with unmet market needs.

Negative

• None.

ANN ARBOR, Mich., Dec. 13, 2022 (GLOBE NEWSWIRE) -- Esperion (NASDAQ: ESPR) today announced that, on December 9, 2022, the Compensation Committee of Esperion’s Board of Directors granted 2 new employees 5,600 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 is the significance of the RSUs granted by Esperion on December 9, 2022?

The RSUs are intended to attract and retain new employees, enhancing Esperion's talent pool.

How many RSUs were granted by Esperion to its employees?

Esperion granted 5,600 RSUs to two new employees.

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

25% of the RSUs will vest after one year, with the remaining 75% vesting quarterly over the next three years.

Under which plan were the RSUs granted by Esperion?

The RSUs were granted under Esperion’s 2017 Inducement Equity Incentive Plan.

What is Esperion's focus in the pharmaceutical market?

Esperion is focused on developing non-statin LDL-cholesterol lowering therapies.