Assembly Biosciences Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
December 04 2020 - 04:30PM
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 three new
employees to purchase an aggregate of 14,520 shares of the
Company’s common stock with an exercise price of $5.66 per share,
the closing price of Assembly Bio’s common stock on December 1,
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 Bio
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 Bio’s
stockholder-approved equity incentive plans pursuant to Assembly
Bio’s 2017 Inducement Award Plan. The stock option awards were
approved by the Compensation Committee of Assembly Bio's Board of
Directors, which is comprised solely of independent directors, as a
material inducement to entering into employment with Assembly Bio
in accordance with Nasdaq Listing Rule 5635(c)(4), which requires
this public announcement.
About Assembly BiosciencesAssembly
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 Bio’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.
ContactsAssembly Biosciences, Inc.Lauren
GlaserSenior Vice President, Investor Relations and Corporate
Affairs(415) 521-3828lglaser@assemblybio.com
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