Dermira Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
July 10 2018 - 4:01PM
Dermira, Inc. (NASDAQ:DERM), a biopharmaceutical company dedicated
to bringing biotech ingenuity to medical dermatology by delivering
differentiated, new therapies to the millions of patients living
with chronic skin conditions, today announced that on July 9, 2018,
the company granted inducement awards to 9 new employees. The
grants were made pursuant to Dermira’s 2018 Equity Inducement Plan
as an inducement material to the employees’ acceptance of
employment with Dermira and were approved by the Compensation
Committee of Dermira’s Board of Directors in accordance with Nasdaq
Listing Rule 5635(c)(4).
The company granted restricted stock unit awards (RSUs)
representing an aggregate of 6,250 shares of Dermira common stock
and stock options to purchase an aggregate of 27,150 shares of
Dermira common stock.
One-third of the total number of shares subject to the RSUs will
vest on August 15, 2019, and annually thereafter, respectively,
until fully vested on the third anniversary, subject to the
employee’s continued service with Dermira on each such vesting
date. One-fourth of the total number of shares underlying the stock
options will vest on the one-year anniversary of the employee’s
date of hire and 1/48th of the total number of shares underlying
the stock options will vest each month thereafter until fully
vested on the fourth anniversary of the employee’s date of hire,
subject to the employee’s continued service with Dermira on each
such vesting date. The stock options have a term of ten years and
an exercise price of $10.42 per share, which is equal to the
closing price of Dermira’s common stock on the grant date as
reported by the Nasdaq Global Select Market.
About DermiraDermira is a
biopharmaceutical company dedicated to bringing biotech ingenuity
to medical dermatology by delivering differentiated, new therapies
to the millions of patients living with chronic skin
conditions. Dermira is committed to understanding the
needs of both patients and physicians and using its insight to
identify and develop leading-edge medical dermatology programs. The
company’s approved treatment, Qbrexza™ (glycopyrronium) cloth, is
an anticholinergic indicated for the topical treatment of primary
axillary hyperhidrosis in adult and pediatric patients 9 years of
age and older. Primary axillary hyperhidrosis is excessive underarm
sweating with no known cause and beyond what is needed for normal
body temperature regulation. Dermira is also evaluating
lebrikizumab in a Phase 2b clinical trial for the treatment of
moderate-to-severe atopic dermatitis (a severe form of eczema) and
has early-stage research programs in other areas of dermatology.
Dermira is headquartered in Menlo Park, Calif. For
more information, please visit http://www.dermira.com.
Follow Dermira on Twitter and LinkedIn.
In addition to filings with the Securities and Exchange
Commission (SEC), press releases, public conference calls and
webcasts, Dermira uses its website (www.dermira.com),
LinkedIn page (https://www.linkedin.com/company/dermira-inc-) and
corporate Twitter account (@DermiraInc) as channels of distribution
of information about its company, product candidates, planned
financial and other announcements, attendance at upcoming investor
and industry conferences and other matters. Such information may be
deemed material information and Dermira may use these
channels to comply with its disclosure obligations under Regulation
FD. Therefore, investors should monitor Dermira’s website, LinkedIn
page and Twitter account in addition to following
its SEC filings, news releases, public conference calls
and webcasts.
Contacts:
Media:Erica JeffersonVice President, Corporate
Communications650-421-7216media@dermira.com
Investors:Ian Clements, Ph.D.Vice President, Investor
Relations650-422-7753investor@dermira.com
Robert H. Uhl Westwicke PartnersManaging
Director858-356-5932robert.uhl@westwicke.com
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