Aclaris Therapeutics Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
January 04 2018 - 4:01PM
Aclaris Therapeutics, Inc. (NASDAQ:ACRS), a dermatologist-led,
biopharmaceutical company focused on identifying, developing and
commercializing innovative and differentiated therapies to address
significant unmet needs in medical and aesthetic dermatology, today
announced that, on January 2, 2018, the Compensation Committee of
Aclaris’ Board of Directors granted 6 non-qualified stock option
awards to purchase an aggregate of 35,800 shares of its common
stock and 6 restricted stock unit awards covering an aggregate of
6,050 shares of its common stock to 6 new employees under the
Aclaris 2017 Inducement Plan. The stock options and
restricted stock units were granted as inducements material to the
new employees becoming employees of Aclaris in accordance with
NASDAQ Listing Rule 5635(c)(4).
The 2017 Inducement Plan is used exclusively for the grant of
equity awards to individuals who were not previously an employee or
non-employee director of Aclaris (or following a bona fide period
of non-employment), as an inducement material to such individual's
entering into employment with Aclaris, pursuant to Rule 5635(c)(4)
of the NASDAQ Listing Rules.
The options have an exercise price of $25.03 per share, which is
equal to the closing price of Aclaris' common stock on January 2,
2018. Each option and restricted stock unit award will vest, and
become exercisable (as applicable), as to twenty-five percent of
the shares on each of the first, second, third and fourth
anniversaries of the recipient's start date, subject to each such
employee's continued employment with Aclaris on such vesting dates.
The options and restricted stock unit awards are subject to the
terms and conditions of Aclaris' 2017 Inducement Equity Plan, and
the terms and conditions of a stock option agreement or restricted
stock unit agreement, as applicable, covering the grant.
About Aclaris Therapeutics, Inc.Aclaris
Therapeutics, Inc. is a dermatologist-led biopharmaceutical company
focused on identifying, developing and commercializing innovative
and differentiated therapies to address significant unmet needs in
medical and aesthetic dermatology. Aclaris is focused on
large, underserved market segments with no FDA-approved medications
or where treatment gaps exist. Aclaris is based in Malvern,
Pennsylvania and more information can be found by visiting the
Aclaris website at www.aclaristx.com.
Aclaris ContactMichael Tung, M.D.Investor
Relations484-329-2140mtung@aclaristx.com
Media ContactMariann
CaprinoTogoRun917-242-1087M.Caprino@togorun.com
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