Aclaris Therapeutics Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
July 03 2018 - 04:01PM
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 July 2, 2018 the Compensation Committee of
Aclaris’ Board of Directors granted 2 non-qualified stock option
awards to purchase an aggregate of 40,500 shares of its common
stock and 5 restricted stock unit awards covering an aggregate of
17,300 shares of its common stock to 5 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 $19.53 per share, which is
equal to the closing price of Aclaris' common stock on July 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 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
committed to identifying, developing, and commercializing
innovative therapies to address significant unmet needs in
dermatology, both aesthetic and medical, and immunology. Aclaris’
focus on market segments with no FDA-approved medications or where
treatment gaps exist has resulted in the first FDA-approved
treatment for raised seborrheic keratoses and several clinical
programs to develop medications for the potential treatment of
common warts, alopecia areata, and vitiligo. For additional
information, please visit www.aclaristx.com and follow Aclaris on
LinkedIn.
Aclaris ContactMichael Tung, M.D.Senior Vice President Corporate
Strategy/Investor Relations484-329-2140mtung@aclaristx.com
Aclaris Therapeutics (NASDAQ:ACRS)
Historical Stock Chart
From Feb 2024 to Mar 2024
Aclaris Therapeutics (NASDAQ:ACRS)
Historical Stock Chart
From Mar 2023 to Mar 2024