Esperion Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
August 21 2020 - 4:05PM
Esperion (NASDAQ: ESPR) today announced that, on August 19, 2020,
the Compensation Committee of Esperion’s Board of Directors granted
25,566 restricted stock units (RSUs) to 28 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, 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.
Contact: Ben Church Esperion 734-864-6774
bchurch@esperion.com
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