Assembly Biosciences Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
March 05 2021 - 5:00PM
Assembly Biosciences, Inc. (Nasdaq: ASMB), a clinical-stage
biotechnology company developing innovative therapeutics targeting
hepatitis B virus (HBV), today announced grants of stock options to
three new employees to purchase an aggregate of 26,000 shares of
the Company’s common stock with an exercise price of $5.05 per
share, the closing price of Assembly Bio’s common stock on March 1,
2021. The stock options were granted as material inducements to the
new employees to accept the Company’s offers of employment.
The stock options have a ten-year term and vest over four years,
with one-fourth vesting on the first anniversary of the date of
grant and the remaining three-fourths vesting in approximately
equal monthly installments. The stock options are, in all cases,
subject to the new employees’ continued service with Assembly Bio
through the applicable vesting dates and to acceleration upon the
occurrence of certain events as set forth in the award agreements
evidencing the stock options. None of the new employees are
executive officers.
The stock options were granted outside of Assembly Bio’s
stockholder-approved equity incentive plans pursuant to Assembly
Bio’s 2020 Inducement Award Plan. The stock option awards were
approved by the Compensation Committee of Assembly Bio’s Board of
Directors, which is comprised solely of independent directors, as a
material inducement to entering into employment with Assembly Bio
in accordance with Nasdaq Listing Rule 5635(c)(4), which requires
this public announcement.
About Assembly BiosciencesAssembly Bio is
a clinical-stage biotechnology company committed to bringing finite
and curative therapies to the 270 million people living with
hepatitis B virus (HBV) worldwide. A pioneer in the development of
a new class of potent, oral core inhibitor drug candidates,
Assembly Bio’s approach aims to break the complex viral replication
cycle of HBV to free patients from a lifetime of therapy. Assembly
Bio’s strategy toward cure includes a leading portfolio of more
potent, next-generation core inhibitors, proof-of-concept
combination studies and a research program focused on the discovery
of novel HBV targets. For more information, visit
assemblybio.com.
ContactsAssembly BioLauren GlaserSenior Vice
President, Investor Relations and Corporate Affairs(415)
521-3828lglaser@assemblybio.com
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