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Aclaris Therapeutics Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
ACRSAclaris Therapeutics(ACRS) GlobeNewswire News Room·2024-12-03 21:30

Core Points - Aclaris Therapeutics granted stock options and restricted stock units to new employees as part of its 2024 Inducement Plan [1][2] - The total granted includes 251,000 shares for 4 new employees and 375,000 shares for the new President and COO, Hugh Davis, Ph.D [1] - The exercise price for the options is set at 3.96pershare,equaltotheclosingpriceonthegrantdate[3]SummarybySectionsStockOptionsandRestrictedStockUnits−Aclarisgrantedatotalof251,000nonstatutorystockoptionsand73,000restrictedstockunitsto4newemployees[1]−HughDavis,thenewPresidentandCOO,received375,000stockoptionsand107,000restrictedstockunits[1]2024InducementPlan−The2024InducementPlanisdesignedforgrantingequityawardstoindividualswhowerenotpreviouslyemployeesordirectorsofAclaris[2]−Thisplanservesasaninducementfornewemployeestojointhecompany[2]VestingandExerciseTerms−Thestockoptionsandrestrictedstockunitswillvestatarateof253.96 per share, equal to the closing price on the grant date [3] Summary by Sections Stock Options and Restricted Stock Units - Aclaris granted a total of 251,000 nonstatutory stock options and 73,000 restricted stock units to 4 new employees [1] - Hugh Davis, the new President and COO, received 375,000 stock options and 107,000 restricted stock units [1] 2024 Inducement Plan - The 2024 Inducement Plan is designed for granting equity awards to individuals who were not previously employees or directors of Aclaris [2] - This plan serves as an inducement for new employees to join the company [2] Vesting and Exercise Terms - The stock options and restricted stock units will vest at a rate of 25% on each of the first four anniversaries of the recipient's start date [3] - The options have an exercise price of 3.96 per share, which matches the closing stock price on the grant date [3]