Aurinia Announces New Employment Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
September 04 2020 - 6:04PM
Business Wire
Aurinia Pharmaceuticals Inc.
(NASDAQ:AUPH) (TSX:AUP) (“Aurinia” or the “Company”), a late-stage
clinical biopharmaceutical company focused on advancing voclosporin
in multiple indications, today announced that the Company’s
Compensation Committee granted 105 new employees non-qualified
stock options to purchase an aggregate of 530,000 common shares, at
a per share exercise price of $14.83 USD, the closing trading price
on August 31, 2020. One-third of the options vest in September
2021, and the balance of the options vests in a series of 24 equal
monthly installments thereafter. The inducement options were
granted as an inducement material to the new employees entering
into employment with Aurinia in accordance with Nasdaq Listing Rule
5653(c)(4). For the purposes of TSX approval, the Company relied on
the exemption set forth in Section 602.1 of the TSX Company Manual,
which provides that the TSX will not apply its standards to certain
transactions involving eligible inter-listed issuers on a
recognized exchange, such as Nasdaq.
The inducement stock options also
have a ten year term and are subject to the terms and conditions of
the stock option agreement pursuant to which the option was
granted.
About Aurinia
Aurinia Pharmaceuticals is a late
clinical-stage biopharmaceutical company focused on developing and
commercializing therapies to treat targeted patient populations
that are impacted by serious diseases with a high unmet medical
need. The Company is currently developing an investigational drug,
for the treatment of lupus nephritis and dry eye syndrome. The
Company’s head office is in Victoria, British Columbia and focuses
its development efforts globally. For further information, see our
website at www.auriniapharma.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200904005511/en/
Investor & Corporate Contact: Glenn Schulman, PharmD,
MPH Corporate Communications, Aurinia gschulman@auriniapharma.com
Media Contact Stefan Riley Ten Bridge Communications
stefan@tenbridgecommunications.com
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