Esperion Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
January 28 2022 - 5:00PM
Esperion (NASDAQ: ESPR) today announced that, on January 27, 2022,
the Compensation Committee of Esperion’s Board of Directors granted
four new employees (i) non-qualified stock options to purchase an
aggregate of 100,450 shares of its common stock, all of which were
granted to Benjamin Looker, Esq., the Company’s newly appointed
General Counsel, and (ii) 204,771 restricted stock units (RSUs),
70,800 of which were awarded to Mr. Looker, 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 $3.65 per
share, which is equal to the closing price of Esperion's common
stock on January 27, 2022. 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 TherapeuticsEsperion works hard to
make our medicines easy to get, easy to take and easy to have. We
discover, develop and commercialize innovative medicines and
combinations to lower cholesterol, especially for patients whose
needs aren’t being met by the status quo. Our entrepreneurial team
of industry leaders is inclusive, passionate and resourceful. We
are singularly focused on managing cholesterol so you can improve
your health easily. Esperion commercializes NEXLETOL® (bempedoic
acid) and NEXLIZET® (bempedoic acid and ezetimibe) Tablets and is
the leader in the development of convenient oral, once-daily
non-statin LDL-cholesterol lowering drugs for patients with high
levels of bad cholesterol. For more information, please visit
www.esperion.com and follow us on Twitter at
www.twitter.com/EsperionInc.
Contact:Ben
Churchbchurch@esperion.com 734-864-6774
Esperion Therapeutics (NASDAQ:ESPR)
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