Apellis Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
WALTHAM, Mass., Aug. 07, 2020 (GLOBE NEWSWIRE) -- Apellis Pharmaceuticals, Inc. (Nasdaq: APLS), a global biopharmaceutical company pioneering targeted C3 therapies, today announced that the company approved the grant of equity awards to two new employees with grant date of August 3, 2020, as equity inducement awards outside of the company's 2017 Stock Incentive Plan (but under the terms of the 2020 Inducement Stock Incentive Plan) and material to the employees’ acceptance of employment with the company. The equity awards were approved on March 26, 2020 and March 27, 2020, in accordance with Nasdaq Listing Rule 5635(c)(4).
The employees received options to purchase 13,400 shares of Apellis common stock. The options have an exercise price of $27.72, which is equal to the closing price of Apellis common stock on August 3, 2020, the grant date of the options. One-fourth of the shares underlying the employee options will vest on the one year anniversary of the grant date and thereafter 1/48th of the shares underlying the employee options will vest monthly, such that the shares underlying the options granted to the employees will be fully vested on the fourth anniversary of the grant date, subject to the employees’ continued employment with Apellis on such vesting dates.
Apellis Forward-Looking Statement
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