Aclaris Therapeutics Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
October 02 2018 - 7:00AM
Aclaris Therapeutics, Inc. (NASDAQ: ACRS), a dermatologist-led
biopharmaceutical company focused on identifying, developing, and
commercializing innovative therapies to address significant unmet
needs in aesthetic and medical dermatology and immunology, today
announced that on October 1, 2018 the Compensation Committee of
Aclaris’ Board of Directors granted 1 non-qualified stock option
award to purchase 7,000 shares of its common stock to one new
employee and 4 restricted stock unit awards covering an aggregate
of 6,900 shares of its common stock to 4 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 $14.90 per share, which is
equal to the closing price of Aclaris' common stock on October 1,
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
focused on identifying, developing, and commercializing innovative
therapies to address significant unmet needs in aesthetic and
medical dermatology 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
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