Grant of Restricted Stock Units and Warrants to Genmab employees
June 07 2018 - 2:31PM
Grant of Restricted Stock Units and Warrants to Genmab employees
Company Announcement
Copenhagen, Denmark; June 7, 2018 –
Genmab A/S (Nasdaq Copenhagen: GEN) announced today that at
a board meeting the board decided to grant
5,305 restricted stock units and 14,714 warrants
to employees of the company and two of the company's
subsidiaries.
Each restricted stock unit is awarded cost-free and provides the
owner with a right and obligation to receive one share in Genmab
A/S of nominally DKK 1. The fair value of each restricted stock
unit is equal to the closing market price on the date of grant of
one Genmab A/S share, DKK 962.
The restricted stock units will vest on the first banking day of
the month following a period of three years from the date of grant.
Furthermore, the restricted stock units are subject to vesting
conditions set out in the restricted stock unit program adopted by
the board of directors in accordance with the general guidelines
for incentive-based remuneration adopted by the shareholders at the
annual general meeting. Information concerning Genmab’s restricted
stock unit program can be found on www.genmab.com under Investors
> Stock information > Restricted stock units.
The exercise price for each warrant is DKK 962. Each warrant is
awarded cost-free and entitles the owner to subscribe one share of
nominally DKK 1 subject to payment of the exercise price. By
application of the Black-Scholes formula, the fair value of each
warrant can be calculated as DKK 346.67.
The warrants vest three years after the grant date, and all
warrants expire at the seventh anniversary of the grant date. The
new warrants have been granted on the terms and conditions set out
in the warrant program adopted by the board of directors on March
28, 2017. Information concerning Genmab’s warrant schemes can be
found on www.genmab.com under Investors > Stock information >
Warrants.
About Genmab Genmab is a publicly traded,
international biotechnology company specializing in the creation
and development of differentiated antibody therapeutics for the
treatment of cancer. Founded in 1999, the company has two
approved antibodies, DARZALEX® (daratumumab) for the treatment of
certain multiple myeloma indications, and Arzerra® (ofatumumab) for
the treatment of certain chronic lymphocytic leukemia
indications. Daratumumab is in clinical development for
additional multiple myeloma indications and other blood
cancers. A subcutaneous formulation of ofatumumab is in
development for relapsing multiple sclerosis. Genmab also has
a broad clinical and pre-clinical product pipeline. Genmab's
technology base consists of validated and proprietary next
generation antibody technologies - the DuoBody® platform for
generation of bispecific antibodies, and the HexaBody® platform
which creates effector function enhanced antibodies. The
company intends to leverage these technologies to create
opportunities for full or co-ownership of future products. Genmab
has alliances with top tier pharmaceutical and biotechnology
companies. For more information visit www.genmab.com.
Contact:
Rachel Curtis Gravesen, Senior Vice President, Investor Relations
& CommunicationsT: +45 33 44 77 20; M: +45 25 12 62 60; E:
rcg@genmab.com This Company Announcement contains forward looking
statements. The words “believe”, “expect”, “anticipate”, “intend”
and “plan” and similar expressions identify forward looking
statements. Actual results or performance may differ materially
from any future results or performance expressed or implied by such
statements. The important factors that could cause our actual
results or performance to differ materially include, among others,
risks associated with pre-clinical and clinical development of
products, uncertainties related to the outcome and conduct of
clinical trials including unforeseen safety issues, uncertainties
related to product manufacturing, the lack of market acceptance of
our products, our inability to manage growth, the competitive
environment in relation to our business area and markets, our
inability to attract and retain suitably qualified personnel, the
unenforceability or lack of protection of our patents and
proprietary rights, our relationships with affiliated entities,
changes and developments in technology which may render our
products obsolete, and other factors. For a further discussion of
these risks, please refer to the risk management sections in
Genmab’s most recent financial reports, which are available on
www.genmab.com. Genmab does not undertake any obligation to update
or revise forward looking statements in this Company Announcement
nor to confirm such statements to reflect subsequent events or
circumstances after the date made or in relation to actual results,
unless required by law. Genmab A/S and/or its subsidiaries own the
following trademarks: Genmab®; the Y-shaped Genmab logo®; Genmab in
combination with the Y-shaped Genmab logo®; HuMax®; DuoBody®;
DuoBody in combination with the DuoBody logo®; HexaBody®; HexaBody
in combination with the HexaBody logo®; and UniBody®. Arzerra® is a
trademark of Novartis AG or its affiliates. DARZALEX® is a
trademark of Janssen Pharmaceutica NV.
Company Announcement no. 17CVR no. 2102 3884LEI Code
529900MTJPDPE4MHJ122
Genmab A/SKalvebod Brygge 431560 Copenhagen VDenmark
- 180607_CA_17_ RSU_and_Warrant_ Grant