Aclaris Therapeutics Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
September 07 2017 - 4:01PM
Aclaris Therapeutics, Inc. (NASDAQ:ACRS), a dermatologist-led,
biopharmaceutical company focused on identifying, developing and
commercializing innovative and differentiated therapies to address
significant unmet needs in medical and aesthetic dermatology, today
announced that, on September 1, 2017, the Compensation Committee of
Aclaris’ Board of Directors granted 34 non-qualified stock option
awards to purchase an aggregate of 325,400 shares of its common
stock to 34 new employees and 30 restricted stock unit awards
covering an aggregate of 52,148 shares of its common stock to 30 of
the 34 new employees under the Aclaris 2017 Inducement Plan.
The stock options and restricted stock units were granted as
inducements material to the new employees becoming employees of
Aclaris in accordance with NASDAQ Listing Rule 5635(c)(4)
The 2017 Inducement Plan is used exclusively for the grant of
equity awards to individuals who were not previously an employee or
non-employee director of Aclaris (or following a bona fide period
of non-employment), as an inducement material to such individual's
entering into employment with Aclaris, pursuant to Rule 5635(c)(4)
of the NASDAQ Listing Rules.
The options have an exercise price of $25.80 per share, which is
equal to the closing price of Aclaris' common stock on September 1,
2017. Each option and restricted stock unit award will vest, and
become exercisable (as applicable), as to twenty-five percent of
the shares on each of the first, second, third and fourth
anniversaries of the recipient's start date, subject to each such
employee's continued employment with Aclaris on such vesting dates.
The options and restricted stock unit awards are subject to the
terms and conditions of Aclaris' 2017 Inducement Plan, and the
terms and conditions of a stock option agreement or restricted
stock unit agreement, as applicable, covering the grant.
About Aclaris Therapeutics, Inc.Aclaris
Therapeutics, Inc. is a dermatologist-led biopharmaceutical company
focused on identifying, developing and commercializing innovative
and differentiated therapies to address significant unmet needs in
medical and aesthetic dermatology. Aclaris is focused on
large, underserved market segments with no FDA-approved medications
or where treatment gaps exist. Aclaris is based in Malvern,
Pennsylvania and more information can be found by visiting the
Aclaris website at www.aclaristx.com.
Aclaris Contact
Michael Tung, M.D.
Investor Relations
484-329-2140
mtung@aclaristx.com
Media Contact
Mariann Caprino
TogoRun
917-242-1087
M.Caprino@togorun.com
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