Xeris Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

Xeris Biopharma Holdings (Nasdaq: XERS) announced the granting of restricted stock units (RSUs) for 196,000 shares of its common stock to 26 new employees. These grants, under the NASDAQ Rule 5635(c)(4), were made on July 1, 2024, as part of Xeris' Inducement Equity Plan. The RSUs will vest over three years, contingent on continued employment. This plan aims to attract new talent to the organization.

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• None.

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• Issuance of 196,000 new shares may lead to shareholder dilution.

CHICAGO--(BUSINESS WIRE)-- Xeris Biopharma Holdings, Inc. (Nasdaq: XERS), a growth-oriented biopharmaceutical company committed to improving patient lives by developing and commercializing innovative products across a range of therapies, today announced that on July 1, 2024, the Compensation Committee of Xeris’ Board of Directors granted restricted stock units for an aggregate of 196,000 shares of its common stock to 26 new employee(s) under Xeris’ Inducement Equity Plan.

Xeris’ Inducement Equity Plan is used exclusively for the grant of equity awards to individuals who were not previously employed by Xeris or one of its subsidiaries as an inducement material to such individual's entering into employment with Xeris or one of its subsidiaries, pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules. The restricted stock units will vest over a period of three years in equal annual installments and are subject to the employees’ continued employment with Xeris or one of its subsidiaries. All equity awards are subject to the terms and conditions of Xeris’ Inducement Equity Plan and forms of award agreements covering the grants.

About Xeris
Xeris (Nasdaq: XERS) is a growth-oriented biopharmaceutical company committed to improving patient lives by developing and commercializing innovative products across a range of therapies. Xeris has three commercially available products; Gvoke®, a ready-to-use liquid glucagon for the treatment of severe hypoglycemia, Keveyis®, a proven therapy for primary periodic paralysis, and Recorlev® for the treatment of endogenous Cushing’s syndrome. Xeris also has a robust pipeline of development programs to extend the current marketed products into important new indications and uses and bring new products forward using its proprietary formulation technology platforms, XeriSol™ and XeriJect®, supporting long-term product development and commercial success. For more information, visit www.xerispharma.com, or follow us on X, LinkedIn, or Instagram.

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Investor Contact

Allison Wey

Senior Vice President, Investor Relations and Corporate Communications

awey@xerispharma.com

Source: Xeris Biopharma Holdings, Inc.

FAQ

What did Xeris (XERS) announce on July 1, 2024?

Xeris announced the grant of restricted stock units for 196,000 shares to 26 new employees under its Inducement Equity Plan.

What is the purpose of Xeris' Inducement Equity Plan?

The Inducement Equity Plan aims to attract new employees by offering equity awards as part of their employment inducement.

How will the restricted stock units (RSUs) granted by Xeris vest?

The RSUs will vest over a period of three years in equal annual installments, contingent on the employees' continued employment.

How many shares were granted by Xeris under the NASDAQ Rule 5635(c)(4)?

Xeris granted restricted stock units for a total of 196,000 shares.

How many new employees received restricted stock units from Xeris?

Twenty-six new employees received restricted stock units.

What is the potential impact of Xeris' new restricted stock unit grants on shareholders?

The issuance of 196,000 new shares may lead to shareholder dilution.