Sage Therapeutics Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Date : 10/02/2019 @ 8:30PM
Source : Business Wire
Stock : Sage Therapeutics Inc (SAGE)
Quote : 72.59  3.92 (5.71%) @ 1:00AM
After Hours
Last Trade
Last $ 74.80 ▲ 2.21 (3.04%)

Sage Therapeutics Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Sage Therapeutics (NASDAQ:SAGE)
Historical Stock Chart

3 Months : From Sep 2019 to Dec 2019

Click Here for more Sage Therapeutics Charts.

Sage Therapeutics, Inc. (NASDAQ: SAGE), a biopharmaceutical company committed to developing novel therapies with the potential to transform the lives of people with debilitating disorders of the brain, today announced that on October 1, 2019, the Compensation Committee of Sage’s Board of Directors granted non-qualified stock options to purchase an aggregate of 8,100 shares of its common stock, and 1,350 performance restricted stock units (PSUs) to four 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 $136.28 per share, which is equal to the closing price of Sage’s common stock on October 1, 2019. 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 PSUs will vest in increments if pre-established performance milestones are achieved, subject to the employee’s continued employment with Sage on such vesting dates.

The equity awards are subject to the terms and conditions of Sage’s 2016 Inducement Equity Plan, and the terms and conditions of equity award agreements covering the grants.

About Sage Therapeutics Sage Therapeutics is a biopharmaceutical company committed to developing novel therapies with the potential to transform the lives of people with debilitating disorders of the brain. We are pursuing new pathways with the goal of improving brain health, and our depression, neurology and neuropsychiatry franchise programs aim to change how brain disorders are thought about and treated. Our mission is to make medicines that matter so people can get better, sooner. For more information, please visit www.sagerx.com.

Investor Contact Matt Calistri 617-914-2635 matthew.calistri@sagerx.com Media Contact Alexis Smith 617-588-3740 alexis.smith@sagerx.com

Latest SAGE Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.