Assembly Biosciences Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
August 07 2020 - 4:30PM
Assembly Biosciences, Inc. (Nasdaq: ASMB), a clinical-stage
biotechnology company developing innovative therapeutics targeting
hepatitis B virus (HBV) and diseases associated with the
microbiome, today announced grants of stock options to two new
employees to purchase an aggregate of 13,000 shares of the
Company’s common stock with an exercise price of $23.08 per share,
the closing price of Assembly’s common stock on August 3, 2020. The
stock options were granted as material inducements to the new
employees to accept the Company’s offers of employment.
The stock options have a ten-year term and vest over four years,
with one-fourth vesting on the first anniversary of the date of
grant and the remaining three-fourths vesting in approximately
equal monthly installments. The stock options are, in all cases,
subject to the new employees’ continued service with Assembly
through the applicable vesting dates and to acceleration upon the
occurrence of certain events as set forth in the award agreements
evidencing the stock options. None of the new employees are
executive officers.
The stock options were granted outside of Assembly’s
stockholder-approved equity incentive plans pursuant to Assembly’s
2020 Inducement Award Plan. The stock option awards were approved
by the Compensation Committee of Assembly’s Board of Directors,
which is comprised solely of independent directors, as a material
inducement to entering into employment with Assembly in accordance
with Nasdaq Listing Rule 5635(c)(4), which requires this public
announcement.
About Assembly Biosciences Assembly
Biosciences, Inc. is a clinical-stage biotechnology company
developing innovative therapeutics targeting hepatitis B virus
(HBV) and diseases associated with the microbiome. The HBV program
is focused on advancing a new class of potent, oral core inhibitors
that have the potential to increase cure rates for chronically
infected patients. The microbiome program is developing novel
oral live microbial biotherapeutic candidates with Assembly’s fully
integrated platform, including a robust process for strain
identification and selection, GMP banking and production, and
targeted delivery to the lower gastrointestinal tract with the
GEMICEL® technology. For more information,
visit assemblybio.com.
Contacts Assembly Biosciences, Inc. Lauren
GlaserSenior Vice President, Investor Relations and Corporate
Affairs(415) 521-3828lglaser@assemblybio.com
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