Travere Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
July 14 2021 - 4:30PM
Travere Therapeutics, Inc. (NASDAQ: TVTX) today announced that on
July 10, 2021, the Compensation Committee of its Board of Directors
granted inducement equity grants covering an aggregate of 89,950
shares of its common stock to eleven new employees, consisting of
inducement stock options to purchase an aggregate of 65,100 shares
of common stock and inducement restricted stock units, or RSUs,
covering an aggregate of 24,850 shares of its common stock. These
inducement stock options and inducement RSUs are subject to the
terms of Travere’s 2018 Equity Incentive Plan (“2018 Plan”), but
were granted outside of the 2018 Plan and were granted as
inducements material to the new employees entering into employment
with Travere in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock options have an exercise price of
$14.68 per share, the closing price of Travere’s common stock on
the next trading day following the date of grant, are non-qualified
stock options, have a 10-year term and vest over four years, with
25% of the shares vesting on the one-year anniversary of the grant
date and the remaining 75% of the shares vesting in equal monthly
installments over the following 36 months, subject to the new
employee’s continued service relationship with Travere through the
applicable vesting dates.
The RSUs vest over four years, with 25% of the
shares vesting on each anniversary of the grant date, subject to
the new employee’s continued service relationship with Travere
through the applicable vesting dates.
About Travere Therapeutics
At Travere Therapeutics we are in rare for life.
We are a biopharmaceutical company that comes together every day to
help patients, families and caregivers of all backgrounds as they
navigate life with a rare disease. On this path, we know the need
for treatment options is urgent – that is why our global team works
with the rare disease community to identify, develop and deliver
life-changing therapies. In pursuit of this mission, we
continuously seek to understand the diverse perspectives of rare
patients and to courageously forge new paths to make a difference
in their lives and provide hope – today and tomorrow. For more
information, visit travere.com
Contact:Chris Cline, CFASenior Vice President,
Investor Relations & Corporate
Communications888-969-7879IR@travere.com
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