Longboard Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(C)(4)
Longboard Pharmaceuticals (Nasdaq: LBPH), a clinical-stage biopharmaceutical company, has announced inducement grants for two new employees. The Compensation Committee approved non-qualified stock options to purchase a total of 29,000 shares of common stock. These options, granted on July 31, 2024, have an exercise price of $33.24 per share, matching the closing price on the grant date.
The stock options will vest over four years, with 25% vesting on the one-year anniversary of each employee's start date and the remaining 75% vesting in 36 equal monthly installments thereafter. These grants are subject to continued employment and were made in accordance with Nasdaq Listing Rule 5635(c)(4) as an inducement for the employees to join Longboard.
Longboard Pharmaceuticals (Nasdaq: LBPH), un'azienda biofarmaceutica in fase clinica, ha annunciato concessioni per due nuovi dipendenti. Il Comitato per la Retribuzione ha approvato opzioni su azioni non qualificate per l'acquisto di un totale di 29.000 azioni ordinarie. Queste opzioni, concesse il 31 luglio 2024, hanno un prezzo di esercizio di $33.24 per azione, corrispondente al prezzo di chiusura nel giorno della concessione.
Le opzioni su azioni matureranno nell'arco di quattro anni, con il 25% che maturerà al primo anniversario della data di assunzione di ciascun dipendente e il restante 75% che maturerà in 36 rate mensili uguali. Queste concessioni sono soggette a un impiego continuativo e sono state effettuate in conformità con la Regola di Quotazione Nasdaq 5635(c)(4) come incentivo per i dipendenti a unirsi a Longboard.
Longboard Pharmaceuticals (Nasdaq: LBPH), una empresa biofarmacéutica en etapa clínica, ha anunciado concessiones para dos nuevos empleados. El Comité de Compensación aprobó opciones sobre acciones no calificadas para la compra de un total de 29,000 acciones ordinarias. Estas opciones, otorgadas el 31 de julio de 2024, tienen un precio de ejercicio de $33.24 por acción, equivalente al precio de cierre en la fecha de concesión.
Las opciones sobre acciones se adquirirán a lo largo de cuatro años, con un 25% que se adquirirá en el primer aniversario de la fecha de inicio de cada empleado y el 75% restante en 36 cuotas mensuales iguales a partir de entonces. Estas concesiones están sujetas a empleo continuo y se realizaron de acuerdo con la Regla de Cotización de Nasdaq 5635(c)(4) como incentivo para que los empleados se unieran a Longboard.
롱보드 제약(Longboard Pharmaceuticals, Nasdaq: LBPH)은 임상 단계의 생명공학 회사로서 두 명의 신규 직원에게 유도 보상을 발표했습니다. 보상 위원회는 총 29,000주에 대한 비공식 주식 매입 옵션을 승인했습니다. 이 옵션은 2024년 7월 31일에 부여되었으며, 행사가격은 주당 $33.24로, 부여일의 종가와 일치합니다.
주식 매입 옵션은 4년에 걸쳐 소유권이 부여되며, 각 직원의 시작일 1주년 기념일에 25%가 부여되고 나머지 75%는 이후 36개월에 걸쳐 동일하게 나누어 부여됩니다. 이 보상은 지속적인 고용에 따라 달라지며, 직원들이 롱보드에 합류하도록 유도하기 위해 Nasdaq 상장 규칙 5635(c)(4)에 따라 이루어졌습니다.
Longboard Pharmaceuticals (Nasdaq: LBPH), une entreprise biopharmaceutique en phase clinique, a annoncé des attributions incitatives pour deux nouveaux employés. Le comité de rémunération a approuvé des options d'achat d'actions non qualifiées pour un total de 29 000 actions ordinaires. Ces options, accordées le 31 juillet 2024, ont un prix d'exercice de 33,24 $ par action, correspondant au prix de clôture à la date de l'attribution.
Les options d'achat d'actions deviendront acquises sur quatre ans, avec 25 % s'acquérant à la première anniversaire de la date de début de chaque employé et les 75 % restants s'acquérant en 36 versements mensuels égaux par la suite. Ces attributions sont soumises à un emploi continu et ont été faites conformément à la règle de cotation Nasdaq 5635(c)(4) comme incitation pour les employés à rejoindre Longboard.
Longboard Pharmaceuticals (Nasdaq: LBPH), ein biopharmazeutisches Unternehmen in klinischer Phase, hat Anreizvergaben für zwei neue Mitarbeiter angekündigt. Der Vergütungsausschuss genehmigte nicht qualifizierte Aktienoptionen zum Erwerb von insgesamt 29.000 Stammaktien. Diese Optionen wurden am 31. Juli 2024 gewährt und haben einen Ausübungspreis von 33,24 USD pro Aktie, der dem Schlusskurs am Tag der Gewährung entspricht.
Die Aktienoptionen werden über einen Zeitraum von vier Jahren verbVest und 25 % werden am ersten Jahrestag des Eintritts jedes Mitarbeiters fällig, während die verbleibenden 75 % in 36 gleichen monatlichen Raten fällig werden. Diese Grants sind an eine fortdauernde Beschäftigung gebunden und wurden gemäß der Nasdaq-Listing-Regel 5635(c)(4) als Anreiz für die Mitarbeiter gewährt, um zu Longboard zu kommen.
- Stock options granted as inducement for new talent acquisition
- Exercise price of $33.24 per share, equal to the closing price on grant date
- None.
The stock options were granted on July 31, 2024 (the “Grant Date”) and have an exercise price of
ABOUT LONGBOARD PHARMACEUTICALS
Longboard Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on developing novel, transformative medicines for neurological diseases. Longboard is working to advance a portfolio of centrally acting product candidates designed to be highly selective for specific G protein-coupled receptors (GPCRs). Longboard’s small molecule product candidates are based on more than 20 years of GPCR research. Longboard plans to advance bexicaserin (LP352), an oral, centrally acting 5-hydroxytryptamine 2C (5-HT2C) receptor superagonist, with no observed impact on 5-HT2B and 5-HT2A receptor subtypes, into a global Phase 3 program. The FDA has granted Breakthrough Therapy designation for bexicaserin for the treatment of seizures associated with Developmental and Epileptic Encephalopathies (DEEs) for patients two years of age and older. Earlier this year, Longboard reported positive topline data from a Phase 1b/2a clinical trial (the PACIFIC Study) evaluating bexicaserin in participants with DEEs. Longboard is also evaluating LP659, an oral, centrally acting, sphingosine-1-phosphate (S1P) receptor subtypes 1 and 5 modulator, which is in development for the potential treatment of rare neuroinflammatory conditions. Longboard recently completed a Phase 1 single-ascending dose (SAD) clinical trial for LP659 in healthy volunteers.
Bexicaserin and LP659 are investigational compounds that are not approved for marketing by the
FORWARD-LOOKING STATEMENTS
Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. In some cases, you can identify forward-looking statements by words such as “focus”, “will”, “working to”, “designed to”, “plans”, “potential” or the negative, plural or other tenses of these words, references to future dates or time periods, or other comparable language, and they may include, without limitation, statements about stock options, Longboard’s clinical and preclinical product candidates and programs, and Longboard’s focus and work. For such statements, Longboard claims the protection of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from Longboard’s expectations. Factors that could cause actual results to differ materially from those stated or implied by Longboard’s forward-looking statements are disclosed in Longboard’s filings with the Securities and Exchange Commission (SEC). These forward-looking statements represent Longboard’s judgment as of the time of this release. Longboard disclaims any intent or obligation to update these forward-looking statements, other than as may be required under applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240802655353/en/
CORPORATE CONTACT:
Megan E. Knight
VP, Head of Investor Relations
IR@longboardpharma.com
858.789.9283
Source: Longboard Pharmaceuticals, Inc.
FAQ
How many shares of common stock were granted as stock options by Longboard Pharmaceuticals (LBPH) on July 31, 2024?
What is the exercise price of the stock options granted by Longboard Pharmaceuticals (LBPH) on July 31, 2024?
What is the vesting schedule for the stock options granted by Longboard Pharmaceuticals (LBPH)?
Under which Nasdaq rule were the inducement grants made by Longboard Pharmaceuticals (LBPH)?
