Aclaris Therapeutics Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
March 06 2018 - 4:05PM
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 March 5, 2018, the Compensation Committee of
Aclaris’ Board of Directors granted 3 non-qualified stock option
awards to purchase an aggregate of 8,900 shares of its common stock
and 3 restricted stock unit awards covering an aggregate of 1,500
shares of its common stock to 3 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 $20.13 per share, which is
equal to the closing price of Aclaris' common stock on March 5,
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 aesthetic and
medical dermatology and immunodermatology. The Company focuses on
market segments with no FDA-approved medications or where treatment
gaps exist. Aclaris is based in Wayne, Pennsylvania. 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
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