Ultragenyx Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE), a biopharmaceutical company specializing in rare and ultrarare diseases, has announced the grant of 19,875 restricted stock units to 14 newly hired non-executive officers. The awards, approved by the company's compensation committee, were granted under the Ultragenyx Employment Inducement Plan on July 16, 2024. This move aligns with Nasdaq Listing Rule 5635(c)(4), serving as an inducement for new employees joining Ultragenyx.
The restricted stock units have a four-year vesting period, with 25% of the underlying shares vesting annually on the grant date anniversary. Continuous employment with Ultragenyx is required for vesting. This grant demonstrates the company's commitment to attracting and retaining talent in the competitive biopharmaceutical industry.
Positive
- Ultragenyx is actively recruiting new talent, indicating potential company growth
- The company is using stock-based compensation to align employee interests with shareholders
Negative
- None.
News Market Reaction
On the day this news was published, RARE gained 4.49%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
NOVATO, Calif., July 19, 2024 (GLOBE NEWSWIRE) -- Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE), a biopharmaceutical company focused on the development and commercialization of novel therapies for rare and ultrarare diseases, today reported the grant of 19,875 restricted stock units of the company’s common stock to 14 newly hired non-executive officers 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 July 16, 2024, 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
About Ultragenyx Pharmaceutical Inc.
Ultragenyx is a biopharmaceutical company committed to bringing novel products to patients for the treatment of serious rare and ultrarare 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
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