Ultragenyx Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Ultragenyx Pharmaceutical (NASDAQ: RARE) announced the grant of stock options totaling 14,445 shares and 4,815 restricted stock units to two newly hired employees. This grant, which took place on August 16, 2021, aligns with the company's Employment Inducement Plan and Nasdaq Listing Rule 5635(c)(4). The stock options have a ten-year term and an exercise price of $88.00 per share. Vested shares will be distributed over four years, contingent on ongoing employment. Ultragenyx continues to focus on developing therapies for rare diseases.

Positive

• Granting stock options and restricted stock units to new hires may enhance employee retention and motivation.
• The company is strengthening its workforce, potentially boosting its capacity for drug development.

Negative

• None.

NOVATO, Calif., Aug. 17, 2021 (GLOBE NEWSWIRE) -- Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE), a biopharmaceutical company focused on the development and commercialization of novel therapies for rare and ultra-rare diseases, today reported the grant of non-qualified stock options to purchase an aggregate of 14,445 shares of common stock of the company and 4,815 restricted stock units of the company’s common stock to two newly hired non-executive officer employees of the company. The awards were approved by the compensation committee of the company’s board of directors and granted under the Ultragenyx Employment Inducement Plan, with a grant date of August 16, 2021, as an inducement material to the new employees entering into employment with Ultragenyx in accordance with Nasdaq Listing Rule 5635(c)(4).

The restricted stock units vest over four years, with 25% of the underlying shares vesting on each anniversary of the grant date, subject to such employee being continuously employed by the company as of such vesting dates. The stock options vest over four years, with 25% of the shares underlying the option vesting on the first anniversary of the grant date and the remainder vesting with respect to 1/48th of the shares underlying the options on each monthly anniversary thereafter, subject to such employee being continuously employed by the company as of such vesting dates. The stock options have a ten-year term and an exercise price of $88.00 per share, equal to the per share closing price of Ultragenyx’s common stock on August 16, 2021.

About Ultragenyx Pharmaceutical Inc.
Ultragenyx is a biopharmaceutical company committed to bringing novel products to patients for the treatment of serious rare and ultra-rare genetic diseases. The company has built a diverse portfolio of approved therapies and product candidates aimed at addressing diseases with high unmet medical need and clear biology for treatment, for which there are typically no approved therapies treating the underlying disease.

The company is led by a management team experienced in the development and commercialization of rare disease therapeutics. Ultragenyx’s strategy is predicated upon time- and cost-efficient drug development, with the goal of delivering safe and effective therapies to patients with the utmost urgency.

For more information on Ultragenyx, please visit the company's website at: www.ultragenyx.com.

Contact Ultragenyx
Investors & Media
Joshua Higa
(415) 475-6370

FAQ

What stock options were granted by Ultragenyx Pharmaceutical on August 16, 2021?

Ultragenyx granted non-qualified stock options to purchase 14,445 shares and 4,815 restricted stock units to two new employees.

What is the exercise price of the stock options granted by Ultragenyx?

The exercise price of the stock options is $88.00 per share.

How long is the vesting period for the stock options and restricted stock units?

The vesting period for both the stock options and restricted stock units spans four years.

Under what plan were the stock options granted to the new employees?

The stock options were granted under the Ultragenyx Employment Inducement Plan.