Esperion Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
January 29 2021 - 5:00PM
Esperion (NASDAQ: ESPR) today announced that, on January 28, 2021,
the Compensation Committee of Esperion’s Board of Directors granted
10 new employees (i) non-qualified stock options to purchase an
aggregate of 150,000 shares of its common stock, all of which were
granted to Sheldon Koenig, the Company’s newly appointed Chief
Operating Officer, and (ii) 49,567 restricted stock units (RSUs),
30,000 of which were awarded to Mr. Koenig, 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.
The options have an exercise price of $32.12 per
share, which is equal to the closing price of Esperion's common
stock on January 28, 2021. Each option and RSU will vest and become
exercisable as to twenty-five percent of the shares on the one-year
anniversary of the recipient’s vesting commencement date, and will
vest and become exercisable as to the remaining 75 percent of the
shares in twelve equal quarterly installments at the end of each
quarter following such anniversary, in each case, subject to each
such employee's continued employment with Esperion on such vesting
dates. The options and RSUs are subject to the terms and conditions
of Esperion’s 2017 Inducement Equity Incentive Plan, and the terms
and conditions of the stock option and RSU agreement covering the
grant.
Esperion Therapeutics
Esperion is The Lipid Management Company. Our
team of lipid experts works to lower bad cholesterol by
discovering, developing and commercializing innovative medicines
and combinations with established medicines. We work hard to make
our medicines easy to take, easy to get and easy to have. We are
singularly focused on disrupting high cholesterol so you can
improve your health – easily. For more information, please
visit www.esperion.com and follow us on Twitter
at www.twitter.com/EsperionInc.
Contact:Kaitlyn
BroscoEsperioncorporateteam@esperion.com
Esperion Therapeutics (NASDAQ:ESPR)
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