Aurinia Announces New Employment Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
November 20 2020 - 5:00PM
Business Wire
Aurinia Pharmaceuticals Inc.
(NASDAQ:AUPH) (TSX:AUP) (“Aurinia” or the “Company”), a late-stage
clinical biopharmaceutical company, today announced that the
Company’s Compensation Committee granted the newly appointed
Executive Vice President, General Counsel, Corporate Secretary
& Chief Compliance Officer, Stephen Robertson, a non-qualified
stock option to purchase an aggregate of 298,924 common shares on
November 16, 2020. The option has a per share exercise price of
$13.40 USD, the closing trading price on November 13, 2020.
One-third of the shares underlying the option vest in November
2021, and the balance of the shares vest in a series of 24 equal
monthly installments thereafter. The inducement option was granted
as an inducement material to the new employee entering into
employment with Aurinia in accordance with Nasdaq Listing Rule
5635(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 option also has
a ten-year term and is 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 the investigational drug,
voclosporin, for the treatment of lupus nephritis. 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/20201120005658/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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