Sage Therapeutics Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
December 04 2017 - 4:01PM
Business Wire
Sage Therapeutics (NASDAQ: SAGE), a clinical-stage
biopharmaceutical company developing novel medicines to treat
life-altering central nervous system (CNS) disorders, today
announced that, on December 1, 2017, the Compensation Committee of
Sage’s Board of Directors granted non-qualified stock options to
purchase an aggregate of 98,000 shares of its common stock to eight
new employees under Sage’s 2016 Inducement Equity Plan.
The 2016 Inducement Equity Plan is used exclusively for the
grant of equity awards to individuals who were not previously an
employee or non-employee director of Sage (or following a bona fide
period of non-employment), as an inducement material to such
individual's entering into employment with Sage, pursuant to Rule
5635(c)(4) of the NASDAQ Listing Rules.
The options have an exercise price of $93.02 per share, which is
equal to the closing price of Sage’s common stock on December 1,
2017. Each option will vest and become exercisable as to 25% of the
shares on the first anniversary of the recipient’s start date, and
will vest and become exercisable as to the remaining 75% of the
shares in 36 equal monthly installments following the first
anniversary, in each case, subject to each such employee’s
continued employment with Sage on such vesting dates. The options
are subject to the terms and conditions of Sage’s 2016 Inducement
Equity Plan, and the terms and conditions of a stock option
agreement covering the grant.
About Sage Therapeutics
Sage Therapeutics is a clinical-stage biopharmaceutical company
committed to developing novel medicines to transform the lives of
patients with life-altering central nervous system (CNS) disorders.
Sage has a portfolio of novel product candidates targeting critical
CNS receptor systems, GABA and NMDA. Sage's lead program, a
proprietary IV formulation of brexanolone (SAGE-547), has completed
two Phase 3 clinical trials in postpartum depression. Sage is
developing its next generation modulators, including SAGE-217 and
SAGE-718, in various CNS disorders. For more information, please
visit www.sagerx.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171204005945/en/
Investor Contact:Sage TherapeuticsPaul Cox,
617-299-8377paul.cox@sagerx.comorMedia Contact:Suda
Communications LLCMaureen L. Suda,
585-387-9248maureen.suda@sagerx.com
Sage Therapeutics (NASDAQ:SAGE)
Historical Stock Chart
From Aug 2024 to Sep 2024
Sage Therapeutics (NASDAQ:SAGE)
Historical Stock Chart
From Sep 2023 to Sep 2024