Ultragenyx Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
May 18 2021 - 04:05PM
Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE), a biopharmaceutical
company focused on the development and commercialization of novel
therapies for rare and ultra-rare diseases, today reported the
grant of non-qualified stock options to purchase an aggregate of
4,677 shares of common stock of the company and 7,100 restricted
stock units of the company’s common stock to a newly hired
non-executive officer of the company. The awards were approved by
the compensation committee of the company’s board of directors and
granted under the Ultragenyx Employment Inducement Plan, with a
grant date of May 16, 2021, as an inducement material to the new
employee entering into employment with Ultragenyx in accordance
with Nasdaq Listing Rule 5635(c)(4).
The restricted stock units vest over four years, with 25% of the
underlying shares vesting on each anniversary of the grant date,
subject to the employee being continuously employed by the company
as of such vesting dates. The stock options vest over four years,
with 25% of the shares underlying the option vesting on the first
anniversary of the grant date and the remainder vesting with
respect to 1/48th of the shares underlying the options on each
monthly anniversary thereafter, subject to the employee being
continuously employed by the company as of such vesting dates. The
stock options have a ten-year term and an exercise price of $110.88
per share, equal to the per share closing price of Ultragenyx’s
common stock on May 14, 2021.
About Ultragenyx Pharmaceutical Inc.Ultragenyx
is a biopharmaceutical company committed to bringing novel
therapies to patients for the treatment of serious rare and
ultra-rare genetic diseases. The company has built a diverse
portfolio of approved medicines and treatment candidates aimed at
addressing diseases with high unmet medical need and clear biology,
for which there are typically no approved therapies treating the
underlying disease.
The company is led by a management team experienced in the
development and commercialization of rare disease therapeutics.
Ultragenyx’s strategy is predicated upon time- and cost-efficient
drug development, with the goal of delivering safe and effective
therapies to patients with the utmost urgency.
For more information on Ultragenyx, please visit the company's
website at: www.ultragenyx.com.
Contact Ultragenyx Investors & MediaJoshua Higa(415)
475-6370
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