Dermira Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
November 08 2019 - 4:05PM
Business Wire
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 November 7, 2019, the company granted inducement awards to three
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 6,100 shares of Dermira common stock
and stock options to purchase an aggregate of 31,000 shares of
Dermira common stock.
One-third of the total number of shares subject to the RSUs will
vest on November 17, 2020 and one-third 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 $6.97 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 Dermira
Dermira 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, develop and commercialize leading-edge medical
dermatology products. The company’s approved treatment, QBREXZA®
(glycopyrronium) cloth, is indicated for pediatric and adult
patients (ages 9 and older) with primary axillary hyperhidrosis
(excessive underarm sweating). Please see the QBREXZA prescribing
information. Dermira is evaluating lebrikizumab in a Phase 3
clinical development program for the treatment of
moderate-to-severe atopic dermatitis (a severe form of eczema) and
has early-stage research and development 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, LinkedIn and Instagram.
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-), corporate
Instagram account (https://www.instagram.com/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, Instagram and Twitter accounts in addition to following its
SEC filings, news releases, public conference calls and
webcasts.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191108005142/en/
Media: Erica Jefferson Vice President, Corporate Communications
650-421-7216 media@dermira.com
Investors: Andrew Guggenhime Chief Financial Officer
650-421-7200 investor@dermira.com
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