Esperion Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
May 15 2020 - 6:00PM
Esperion (NASDAQ: ESPR) today announced that, on May 15, 2020, the
Compensation Committee of Esperion’s Board of Directors granted
88,902 restricted stock units (RSUs) to 194 new colleagues under
Esperion’s 2017 Inducement Equity Incentive Plan.
The 2017 Inducement Equity Incentive Plan is
used exclusively for the grant of equity awards to individuals who
were not previously an employee or non-employee director of
Esperion (or following a bona fide period of non-employment), as an
inducement material to such individual's entering into employment
with Esperion, pursuant to Rule 5635(c)(4) of the NASDAQ Listing
Rules.
Each RSU will vest as to twenty-five percent of
the shares on the one-year anniversary of the recipient's start
date, and will vest as to the remaining 75 percent of the shares in
twelve equal quarterly installments at the end of each quarter
following the anniversary, in each case, subject to each such
employee's continued employment with Esperion on such vesting
dates. The RSUs are subject to the terms and conditions of
Esperion’s 2017 Inducement Equity Incentive Plan, and the terms and
conditions of the RSU agreement covering the grant.
Esperion Therapeutics
Through scientific and clinical excellence, and
a deep understanding of cholesterol biology, the experienced Lipid
Management Team at Esperion is committed to developing new LDL-C
lowering medicines that will make a substantial impact on reducing
global cardiovascular disease, the leading cause of death around
the world. For more information, please
visit www.esperion.com and follow us on Twitter
at www.twitter.com/EsperionInc.
Esperion Therapeutics’ Commitment to Patients with
Hyperlipidemia
High levels of LDL-C can lead to a build-up of
fat and cholesterol in and on artery walls (known as
atherosclerosis), potentially leading to cardiovascular events,
including heart attack and stroke. In the U.S., 96 million people,
or more than 37 percent of the adult population, have elevated
LDL-C. There are approximately 18 million people in the U.S. living
with elevated levels of LDL-C despite taking maximally tolerated
lipid-modifying therapy — including individuals considered statin
averse — leaving them at high risk for cardiovascular events1. In
the United States, more than 50 percent of atherosclerotic
cardiovascular disease (ASCVD) patients and heterozygous familial
hypercholesterolemia (HeFH) patients who are not able to reach
their guideline recommended LDL-C levels with statins alone need
less than a 40 percent reduction to reach their LDL-C threshold
goal2.
Esperion's mission as the Lipid Management
Company is to deliver oral, once-daily medicines that complement
existing oral drugs to provide the additional LDL-C lowering that
these patients need.
Forward-Looking Statements
This press release contains forward-looking
statements that are made pursuant to the safe harbor provisions of
the federal securities laws, including statements regarding the
clinical development and commercialization plans for bempedoic acid
tablet and the bempedoic acid / ezetimibe fixed dose combination
tablet, including Esperion's timing, designs, plans for
announcement of results regarding its CLEAR Outcomes study and
other ongoing clinical studies for bempedoic acid tablet and the
bempedoic acid / ezetimibe combination fixed dose tablet, timing
for the review and approval of expanded indications for their
effect on cardiovascular events, and Esperion's expectations for
the market for medicines to lower LDL-C, including the commercial
launch and market adoption of bempedoic acid tablet and the
bempedoic acid / ezetimibe fixed dose combination tablet in the
United States and European Union. Any express or implied statements
contained in this press release that are not statements of
historical fact may be deemed to be forward-looking statements.
Forward-looking statements involve risks and uncertainties that
could cause Esperion's actual results to differ significantly from
those projected, including, without limitation, delays or failures
in Esperion’s clinical development and commercialization plans, or
approval of expanded indications, that existing cash resources may
be used more quickly than anticipated, that Otsuka is able to
successfully commercialize bempedoic acid and the bempedoic acid /
ezetimibe fixed dose combination tablet, the impact of COVID-19 on
our business, clinical activities and commercial development plans,
and the risks detailed in Esperion's filings with the Securities
and Exchange Commission. Any forward-looking statements contained
in this press release speak only as of the date hereof, and
Esperion disclaims any obligation or undertaking to update or
revise any forward-looking statements contained in this press
release, other than to the extent required by law.
References 1 Esperion market research on
file: research project interviewing 350 physicians. Esperion
Therapeutics, Inc. Sept-Oct 2018. 2 Data on file: analysis of
NHANES database. Esperion Therapeutics, Inc. 2018.
Investor Contact: Alex Schwartz Esperion
734-249-3386aschwartz@esperion.com
Media Contact: Ben Church Esperion 734-864-6774
bchurch@esperion.com
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