NewAmsterdam Pharma Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

NewAmsterdam Pharma Company N.V. (Nasdaq: NAMS), a late-stage clinical biopharmaceutical company focused on developing oral, non-statin medicines for patients at risk of cardiovascular disease with elevated LDL-C, has announced the approval of inducement share options. The Compensation Committee of NewAmsterdam's Board of Directors granted options covering 100,000 ordinary shares to one non-executive new hire.

The share options, granted under the 2024 Inducement Plan, have an exercise price of $17.29 per share, equal to the closing market price on October 1, 2024. The shares will vest over four years, with 25% vesting on the one-year anniversary and the remainder vesting in 36 equal monthly installments, subject to continued service. This grant is in accordance with Nasdaq Listing Rule 5635(c)(4).

Positive

• Attraction of new talent with stock options as incentive
• Alignment of employee interests with company performance through equity compensation

Negative

• Potential dilution of existing shareholders' equity

News Market Reaction

-2.58%

1 alert

-2.58% News Effect

On the day this news was published, NAMS declined 2.58%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

NAARDEN, the Netherlands and MIAMI, Oct. 04, 2024 (GLOBE NEWSWIRE) -- NewAmsterdam Pharma Company N.V. (Nasdaq: NAMS or “NewAmsterdam” or the “Company”), a late-stage, clinical biopharmaceutical company developing oral, non-statin medicines for patients at risk of cardiovascular disease (“CVD”) with elevated low-density lipoprotein cholesterol (“LDL-C”), for whom existing therapies are not sufficiently effective or well-tolerated, today announced that the Compensation Committee of NewAmsterdam’s Board of Directors approved the grant of inducement share options covering an aggregate of 100,000 of NewAmsterdam’s ordinary shares to one non-executive new hire. The share options were granted as an inducement material to the employee’s acceptance of employment with NewAmsterdam pursuant to the NewAmsterdam Pharma Company N.V. 2024 Inducement Plan (the “2024 Inducement Plan”) and in accordance with Nasdaq Listing Rule 5635(c)(4).

The share options have an exercise price per share equal to $17.29, which represents the closing market price on the Nasdaq Stock Market of the Company’s ordinary shares on, October 1, 2024, the grant date. The shares subject to the options will vest over four years, with 25% of the shares vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the shares vesting in a series of 36 equal monthly installments thereafter, subject to the employee’s continued service with NewAmsterdam on such vesting dates. The options are subject to the terms and conditions of the 2024 Inducement Plan and the terms and conditions of an option award agreement covering the grant.

About NewAmsterdam
NewAmsterdam Pharma (Nasdaq: NAMS) is a late-stage biopharmaceutical company whose mission is to improve patient care in populations with metabolic diseases where currently approved therapies have not been adequate or well tolerated. We seek to fill a significant unmet need for a safe, well-tolerated and convenient LDL-lowering therapy. In multiple phase 3 studies, NewAmsterdam is investigating obicetrapib, an oral, low-dose and once-daily CETP inhibitor, alone or as a fixed-dose combination with ezetimibe, as LDL-C lowering therapies to be used as an adjunct to statin therapy for patients at risk of CVD with elevated LDL-C, for whom existing therapies are not sufficiently effective or well tolerated.

Company Contact
Matthew Philippe
P: 1-917-882-7512
matthew.philippe@newamsterdampharma.com

FAQ

What is the exercise price of the inducement share options granted by NewAmsterdam Pharma (NAMS)?

The exercise price of the inducement share options granted by NewAmsterdam Pharma (NAMS) is $17.29 per share, which was the closing market price of the Company's ordinary shares on October 1, 2024, the grant date.

How many ordinary shares are covered by the inducement share options granted by NewAmsterdam Pharma (NAMS)?

The inducement share options granted by NewAmsterdam Pharma (NAMS) cover an aggregate of 100,000 ordinary shares.

What is the vesting schedule for the inducement share options granted by NewAmsterdam Pharma (NAMS)?

The shares subject to the options will vest over four years, with 25% vesting on the one-year anniversary of the vesting commencement date and the remaining 75% vesting in 36 equal monthly installments thereafter, subject to continued employment.

Under which plan were the inducement share options granted by NewAmsterdam Pharma (NAMS)?

The inducement share options were granted under the NewAmsterdam Pharma Company N.V. 2024 Inducement Plan.