Xeris Pharmaceuticals Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
December 31 2020 - 4:05PM
Business Wire
Xeris Pharmaceuticals, Inc. (NASDAQ: XERS), a specialty
pharmaceutical company leveraging its novel technology platforms to
develop and commercialize ready-to-use injectable and infusible
drug formulations, today announced that on December 30, 2020, the
Compensation Committee of Xeris’ Board of Directors granted
non-qualified stock options for an aggregate of 38,250 shares, and
restricted stock units for an aggregate of 35,100 shares, of its
common stock to 7 new employee(s) under Xeris’ Inducement Equity
Plan.
Xeris’ Inducement Equity Plan is used exclusively for the grant
of equity awards to individuals who were not previously employed by
Xeris or one of its subsidiaries as an inducement material to such
individual's entering into employment with Xeris or one of its
subsidiaries, pursuant to Rule 5635(c)(4) of the NASDAQ Listing
Rules. The non-qualified stock options will vest over a period of
four years, either 25% on the first anniversary of the grant with
the remaining 75% vesting in thirty-six equal monthly installments
thereafter, or 36% on 18 months after the grant date with the
remaining 64% vesting in ten equal quarterly installments
thereafter, and are subject to the employees’ continued employment
with Xeris or one of its subsidiaries. The restricted stock units
will vest over a period of four years in equal annual installments,
and are subject to the employees’ continued employment with Xeris
or one of its subsidiaries. All equity awards are subject to the
terms and conditions of Xeris’ Inducement Equity Plan and forms of
award agreements covering the grants.
About Xeris Pharmaceuticals, Inc.
Xeris (NASDAQ: XERS) is a specialty pharmaceutical company
delivering innovative solutions to simplify the experience of
administering important therapies that people rely on every day
around the world.
With a novel technology platform that enables ready-to-use,
room-temperature stable formulations of injectable and infusible
therapies, the company is advancing a portfolio of solutions in
various therapeutic categories, including its first commercial
product, Gvoke®. Its proprietary XeriSol™ and XeriJect™ formulation
technologies have the potential to offer distinct advantages over
conventional product formulations, including eliminating the need
for reconstitution, enabling long-term, room-temperature stability,
significantly reducing injection volume, and eliminating the
requirement for intravenous (IV) infusion. With Xeris’ technology,
new product formulations are designed to be easier to use by
patients, caregivers, and health practitioners and help reduce
costs for payers and the healthcare system.
Xeris is headquartered in Chicago, IL. For more information,
visit www.xerispharma.com, or follow us on Twitter, LinkedIn or
Instagram.
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version on businesswire.com: https://www.businesswire.com/news/home/20201231005005/en/
Investor Contact Allison Wey Senior Vice President,
Investor Relations and Corporate Communications
awey@xerispharma.com 312-736-1237
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