Verrica Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
Verrica Pharmaceuticals (Nasdaq: VRCA), a dermatology therapeutics company, has announced the granting of a nonqualified stock option to its new Chief Operating Officer, David Zawitz. The grant includes options to purchase 950,000 shares of common stock under the Company's Inducement Plan, effective December 9, 2024.
The stock option, granted as a material inducement to employment under Nasdaq Listing Rule 5635(c)(4), will have an exercise price equal to the closing price of Verrica's common stock on December 9, 2024. The vesting schedule includes 1/8th of shares after six months and 1/48th monthly thereafter, subject to continuous service.
Verrica Pharmaceuticals (Nasdaq: VRCA), un'azienda di terapia dermatologica, ha annunciato il conferimento di una opzione azionaria non qualificata al suo nuovo Chief Operating Officer, David Zawitz. Il conferimento include opzioni per acquistare 950.000 azioni di azioni ordinarie nell'ambito del Piano di Induzione dell'azienda, efficace dal 9 dicembre 2024.
L'opzione azionaria, concessa come incentivo materiale all'occupazione ai sensi della Regola di Quotazione Nasdaq 5635(c)(4), avrà un prezzo di esercizio pari al prezzo di chiusura delle azioni ordinarie di Verrica del 9 dicembre 2024. Il programma di maturazione prevede 1/8 delle azioni dopo sei mesi e 1/48 mensilmente successivamente, soggetto a un servizio continuo.
Verrica Pharmaceuticals (Nasdaq: VRCA), una empresa de terapias dermatológicas, ha anunciado la concesión de una opción de acciones no calificadas a su nuevo Director de Operaciones, David Zawitz. La concesión incluye opciones para comprar 950,000 acciones comunes bajo el Plan de Inducción de la empresa, con vigencia a partir del 9 de diciembre de 2024.
La opción de acciones, concedida como un incentivo material para el empleo de acuerdo con la Regla de Cotización Nasdaq 5635(c)(4), tendrá un precio de ejercicio igual al precio de cierre de las acciones comunes de Verrica el 9 de diciembre de 2024. El programa de adquisición incluye 1/8 de las acciones después de seis meses y 1/48 mensualmente a partir de entonces, sujeto a un servicio continuo.
Verrica Pharmaceuticals (Nasdaq: VRCA), 피부 치료 회사,는 새 COO인 David Zawitz에게 비자격 주식 옵션을 부여했다고 발표했습니다. 이 부여는 회사 유도 계획에 따라 950,000 주의 보통주를 구매할 수 있는 옵션을 포함하고 있으며, 2024년 12월 9일부터 효력이 발생합니다.
이 주식 옵션은 Nasdaq 상장 규칙 5635(c)(4)에 따른 고용에 대한 실질적인 유인으로 부여되며, 발행 가격은 2024년 12월 9일 Verrica의 보통주 종가와 동일합니다. 투자 일정에는 6개월 후 1/8 주식과 이후 매월 1/48 주식이 포함되며, 지속적인 서비스가 요구됩니다.
Verrica Pharmaceuticals (Nasdaq: VRCA), une entreprise de thérapies dermatologiques, a annoncé l'octroi d'une option d'achat d'actions non qualifiée à son nouveau directeur des opérations, David Zawitz. L'octroi comprend des options pour acheter 950 000 actions ordinaires dans le cadre du Plan d'Induction de la Société, effectif à partir du 9 décembre 2024.
L'option d'achat, accordée en tant qu'incitation matérielle à l'emploi conformément à la règle d'inscription Nasdaq 5635(c)(4), aura un prix d'exercice équivalent au prix de clôture des actions ordinaires de Verrica le 9 décembre 2024. Le calendrier d'acquisition comprend 1/8 des actions après six mois et 1/48 chaque mois par la suite, sous réserve d'un service continu.
Verrica Pharmaceuticals (Nasdaq: VRCA), ein Unternehmen für dermatologische Therapien, hat die Gewährung einer nicht qualifizierten Aktienoption an seinen neuen Chief Operating Officer, David Zawitz, bekannt gegeben. Die Gewährung umfasst Optionen zum Kauf von 950.000 Aktien aus dem Unternehmensinduktionsplan, der ab dem 9. Dezember 2024 in Kraft tritt.
Die Aktienoption, die als wesentlicher Anreiz für die Beschäftigung gemäß der Nasdaq-Listing-Regel 5635(c)(4) gewährt wird, hat einen Ausübungspreis, der dem Schlusskurs der Verrica-Stammaktien am 9. Dezember 2024 entspricht. Der Vesting-Zeitplan sieht vor, dass 1/8 der Aktien nach sechs Monaten und danach monatlich 1/48 gewährt werden, vorbehaltlich einer kontinuierlichen Dienstzeit.
- Appointment of new Chief Operating Officer strengthening executive team
- Potential shareholder dilution from 950,000 share options grant
WEST CHESTER, Pa., Dec. 09, 2024 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (“Verrica” or the “Company”) (Nasdaq: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced that Verrica’s Compensation Committee granted David Zawitz, Verrica’s new Chief Operating Officer, a nonqualified stock option to purchase 950,000 shares of its common stock under the Company’s Inducement Plan, effective December 9, 2024. The stock option was granted as a material inducement to Mr. Zawitz’s employment with Verrica in accordance with Nasdaq Listing Rule 5635(c)(4).
The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee or non-employee director of Verrica (or following a bona fide period of non-employment), as an inducement material to such individual’s entering into employment with Verrica, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.
The option award will have an exercise price equal to the closing price of Verrica’s common stock on December 9, 2024. The option award will vest and become exercisable as to 1/8th of the shares on the date that is six months following Mr. Zawitz’s start date, and 1/48th of the shares each month thereafter on the same day of the month as the start date, subject to Mr. Zawitz’s continuous service with Verrica on such vesting dates. The option award is subject to the terms and conditions of the Inducement Plan, and the terms and conditions of a stock option agreement covering the grant.
About Verrica Pharmaceuticals Inc.
Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. Verrica’s product YCANTH® (VP-102) (cantharidin), is the first and only commercially available treatment approved by the FDA to treat adult and pediatric patients two years of age and older with molluscum contagiosum, a highly contagious viral skin infection affecting approximately 6 million people in the United States, primarily children. YCANTH® (VP-102) is also in development to treat common warts and external genital warts, two of the largest remaining unmet needs in medical dermatology. Verrica is developing VP-103, its second cantharidin-based product candidate, for the treatment of plantar warts. Verrica has also entered a worldwide license agreement with Lytix Biopharma AS to develop and commercialize VP-315 (formerly LTX-315 and VP-LTX-315) for non-melanoma skin cancers including basal cell carcinoma and squamous cell carcinoma. For more information, visit www.verrica.com.
FOR MORE INFORMATION, PLEASE CONTACT:
Investors:
Kevin Gardner
LifeSci Advisors
kgardner@lifesciadvisors.com
Chris Calabrese
LifeSci Advisors
ccalabrese@lifesciadvisors.com
FAQ
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