Portola Pharmaceuticals Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
October 03 2017 - 4:05PM
Portola Pharmaceuticals, Inc.® (NASDAQ:PTLA) announced today that
on September 27, 2017, the Compensation Committee of the Board of
Directors approved, effective as of September 29, 2017, the grant
of inducement stock options to purchase an aggregate of 82,000
shares of common stock to three new employees.
Each stock option shall have an exercise price per share of
$54.03, the closing price per share of the Company’s Common Stock
on September 29, 2017, and will vest over four years, with 25% of
the shares vesting on the one-year anniversary of the applicable
vesting commencement date and the remaining shares vest ratably
over the subsequent 36 months, subject to each new employee's
continued service with the Company. Each stock option has a
ten-year term and is subject to the terms and conditions of the
Company's Inducement Plan and the stock option agreement pursuant
to which the option was granted.
The stock options were granted as inducements material to the
new employees entering into employment with Portola in accordance
with NASDAQ Listing Rule 5635(c)(4).
About Portola Pharmaceuticals, Inc.
Portola Pharmaceuticals is a
biopharmaceutical company developing product candidates that could
significantly advance the fields of thrombosis and other
hematologic diseases. The Company is advancing its three
wholly-owned programs using novel biomarker and genetic approaches
that may increase the likelihood of clinical, regulatory and
commercial success of its potentially life-saving therapies.
Portola's partnered program is focused on developing selective Syk
inhibitors for inflammatory conditions.
Investor Contact:Michele MantynenPortola
Pharmaceuticalsir@portola.com
Media Contact:Patrick RyanW2O
Grouppryan@w2ogroup.com
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