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

Rhea-AI Summary

Revance Therapeutics (Nasdaq: RVNC) has announced the issuance of 104,800 inducement restricted stock units (RSUs) to 31 new employees. These RSUs will vest over a period of four years, with 25% vesting annually. The grants were approved by Revance's Compensation Committee as an inducement material to the new hires' employment, in compliance with NASDAQ Listing Rule 5635(c)(4).

Positive

• Issuance of 104,800 RSUs indicates strategic hiring and expansion.
• New talent acquisition could enhance company capabilities and innovation.
• The structured vesting schedule encourages employee retention.

Negative

• Issuing 104,800 RSUs may lead to shareholder dilution.
• Long vesting period potentially defers the realization of benefits from new hires.
• Additional RSUs could increase the company's compensation expenses.

NASHVILLE, Tenn.--(BUSINESS WIRE)-- Revance Therapeutics, Inc. (Nasdaq: RVNC) today announced new hire grants totaling an aggregate of 104,800 inducement restricted stock units (“RSUs”) to 31 employees. The RSUs vest over four years, with 25% of the underlying shares vesting on each of the four anniversaries of the applicable vesting commencement date, subject to the new employee's continued service relationship with Revance through the applicable vesting dates.

The Compensation Committee of Revance’s Board of Directors approved the awards as an inducement material to the new employees’ employment in accordance with NASDAQ Listing Rule 5635(c)(4).

About Revance

Revance is a biotechnology company setting the new standard in healthcare with innovative aesthetic and therapeutic offerings that enhance patient outcomes and physician experiences. Revance’s portfolio includes DAXXIFY® (DaxibotulinumtoxinA-lanm) for injection and the RHA® Collection of dermal fillers in the U.S. Revance has also partnered with Viatris Inc. to develop a biosimilar to onabotulinumtoxinA for injection and Shanghai Fosun Pharmaceutical to commercialize DAXXIFY® in China.

Revance’s global headquarters and experience center is located in Nashville, Tennessee. Learn more at Revance.com, RevanceAesthetics.com, DAXXIFY.com, HCP.DAXXIFYCervicalDystonia.com, or connect with us on LinkedIn.

“Revance”, the Revance logo, and DAXXIFY are registered trademarks of Revance Therapeutics, Inc. Resilient Hyaluronic Acid® and RHA® are trademarks of TEOXANE SA.

Forward-Looking Statements

Any statements in this press release that are not statements of historical fact, including statements related to the potential to set a new standard of care; patient outcomes and physician experiences; and our strategic partnerships; constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance, events, circumstances or achievements reflected in the forward-looking statements will ever be achieved or occur.

Forward-looking statements are subject to risks and uncertainties that could cause actual results and the timing of events to differ materially from our expectations. These risks and uncertainties relate to, but are not limited to: our ability to obtain funding for our operations; the timing of capital expenditures; the accuracy of our estimates regarding expenses, revenues, capital requirements, supply chain and operational efficiencies; our financial performance and the economics of DAXXIFY and the RHA Collection of dermal fillers; our ability to comply with our debt obligations; the impact of macroeconomic factors on our manufacturing operations, supply chain, end user demand for our products, commercialization efforts, business operations, regulatory meetings, inspections and approvals, clinical trials and other aspects of our business and on the market; our ability to maintain approval of our products; our ability and the ability of our partners to manufacture supplies for DAXXIFY and our drug product candidates; our ability to acquire supplies of the RHA Collection of dermal fillers; the uncertain clinical development process; our ability to obtain, and the timing relating to, regulatory submissions and approvals with respect to our drug product candidates and third-party manufacturers; the risk that clinical trials may not have an effective design or generate positive results or that positive results would assure regulatory approval or commercial success; the applicability of clinical study results to actual outcomes; the rate and degree of economic benefit, safety, efficacy, duration, commercial acceptance, market, competition and/or size and growth potential of DAXXIFY, the RHA Collection of dermal fillers, and our drug product candidates, if approved; our ability to successfully commercialize DAXXIFY and to continue to successfully commercialize the RHA Collection of dermal fillers; the timing and cost of commercialization activities; securing or maintaining adequate coverage or reimbursement by third-party payers for DAXXIFY; the proper training and administration of our products by physicians and medical staff; our ability to maintain and gain acceptance from injectors and physicians in the use of DAXXIFY for aesthetic and therapeutic indications; our ability to strengthen professional partnerships; our ability to expand sales and marketing capabilities; the status of commercial collaborations; changes in and failures to comply with laws and regulations; our ability to continue obtaining and maintaining intellectual property protection for our products; the cost and our ability to defend ourselves in product liability, intellectual property, class action or other lawsuits; our ability to limit or mitigate cybersecurity incidents; the volatility of our stock price; and other risks. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release may be found in our periodic filings with the Securities and Exchange Commission (SEC), including factors described in the section entitled "Risk Factors" in our Form 10-K, filed with the SEC on February 28, 2024, and including, without limitation, our Form 10-Q for the quarter ended March 31, 2024, filed with the SEC on May 9, 2024. The forward-looking statements in this press release speak only as of the date hereof. We disclaim any obligation to update these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240614746651/en/

Investors

Laurence Watts, 619-916-7620

laurence@newstreetir.com



Media

revance@evolvemkd.com

Source: Revance Therapeutics, Inc.

FAQ

What did Revance Therapeutics announce on their recent press release?

Revance Therapeutics announced the issuance of 104,800 inducement restricted stock units (RSUs) to 31 new employees.

How long is the vesting period for Revance's new RSUs?

The RSUs issued by Revance will vest over a period of four years, with 25% vesting each year.

What is the significance of the RSUs granted by Revance Therapeutics?

The RSUs are meant as an inducement material to attract and retain new employees, following NASDAQ Listing Rule 5635(c)(4).

What is the stock symbol for Revance Therapeutics?

The stock symbol for Revance Therapeutics is RVNC.

How many employees are receiving the inducement RSUs from Revance?

A total of 31 new employees are receiving the inducement RSUs from Revance.