Achieve Life Sciences Announces Granting of New Hire Inducement Awards

The awards carry four-year vesting schedules, with recipients required to remain in service through each applicable vesting date.

Rhea-AI Summary

Achieve Life Sciences (ACHV) approved equity inducement awards for four new employees and newly appointed Chief Financial Officer Benjamin Halladay.

The four employees received stock option grants covering 46,500 shares and restricted stock units (RSUs) covering 44,500 shares. Halladay’s award comprises an option to purchase up to 200,000 shares and 200,000 RSUs. Options have an exercise price equal to the closing share price on the applicable grant date. Both award types vest over four years, subject to continued service. The grants were made under the 2024 Equity Inducement Plan as inducements to enter employment.

Positive

• None.

Negative

• Minor point. Forward-looking: it has not happened yet and may not happen.Halladay’s option for up to 200,000 shares and 200,000 RSUs create potential shareholder dilution.
• Minor point. Forward-looking: it has not happened yet and may not happen.Four employees’ options covering 46,500 shares and RSUs covering 44,500 shares create potential shareholder dilution.

Key Figures

New-hire stock options: 46,500 shares New-hire RSUs: 44,500 shares CFO stock option: Up to 200,000 shares +1 more

New-hire stock options

46,500 shares

Four new employees

New-hire RSUs

44,500 shares

Four new employees

CFO stock option

Up to 200,000 shares

Benjamin Halladay inducement award

CFO RSUs

200,000 shares

Benjamin Halladay inducement award

Key Terms

restricted stock unit, new drug application, phase 3, breakthrough therapy designation, +1 more

5 terms

restricted stock unit financial

"restricted stock unit (“RSU”) awards covering an aggregate of 44,500 shares"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

new drug application regulatory

"Achieve’s New Drug Application (NDA) for cytisinicline"

A new drug application is a formal request submitted to government regulators seeking approval to market a new medicine. It is like a detailed proposal that shows the drug has been tested for safety and effectiveness. For investors, receiving approval signals that the drug may soon become available for sale, potentially leading to revenue growth and impacting the company's value.

phase 3 medical

"supported by two successfully completed Phase 3 studies"

Phase 3 is the late-stage clinical testing step for a new drug or medical treatment, where the product is given to large groups of patients to confirm effectiveness, monitor side effects, and compare it to standard care. Successful Phase 3 results are often the final scientific hurdle before regulators decide on approval and market launch—like passing a final exam before graduation—and can sharply change a company's valuation and future revenue prospects.

breakthrough therapy designation regulatory

"has received Breakthrough Therapy designation for the vaping cessation indication"

A breakthrough therapy designation is a regulatory fast-track given to a drug or treatment that shows early signs of providing a major improvement over existing options for a serious condition. Think of it as a VIP lane that can speed up development and more intensive guidance from regulators, which matters to investors because it can shorten time to market, reduce development risk and potentially increase a company’s value — though it does not guarantee approval.

nicotinic acetylcholine receptor medical

"high binding affinity to the nicotinic acetylcholine receptor"

A nicotinic acetylcholine receptor is a protein on the surface of nerve or muscle cells that acts like a lock which opens when the chemical acetylcholine (or nicotine) — the key — binds to it, allowing electrical signals or ions to pass through. Investors care because drugs that activate or block these receptors can change brain function, addiction, or muscle control; successful therapies can create large markets, while safety issues or regulatory hurdles around these receptors can affect a drug’s approval and commercial prospects.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SEATTLE and VANCOUVER, British Columbia, Oct. 06, 2026 (GLOBE NEWSWIRE) -- Achieve Life Sciences, Inc. (Achieve or the Company) (Nasdaq: ACHV), a late-stage specialty pharmaceutical company focused on the global development and commercialization of cytisinicline as a treatment for nicotine dependence, today announced that its board of directors approved stock option grants to purchase an aggregate of 46,500 shares of its common stock and restricted stock unit (“RSU”) awards covering an aggregate of 44,500 shares of its common stock for four new employees. Achieve also announced that the board of directors approved an inducement award grant to Benjamin Halladay, the Company’s newly appointed Chief Financial Officer, consisting of an option to purchase up to 200,000 shares of common stock and 200,000 RSUs.

The stock options have an exercise price equal to the closing price of Achieve’s common stock on the applicable grant date. Each stock option has a ten-year term and vests over four years, with 25% of the shares underlying the stock option on the first anniversary following commencement of employment. The remaining 75% of the shares underlying the stock option will vest in 36 equal monthly installments thereafter, subject to the employee’s continued service through each applicable vesting date.

Each RSU award represents the right to receive one share of Achieve’s common stock upon vesting, subject to the recipient’s continued service. The RSUs will vest over four years with 25% of the underlying shares vesting on each anniversary following commencement of employment, subject to the employee’s continued service through each applicable vesting date.

The stock options and RSU awards are subject to the terms and conditions of the 2024 Equity Inducement Plan, as well as the terms and conditions of the stock option agreement or RSU award agreement covering the grants and were made as an inducement material to the individuals entering into employment with Achieve in accordance with Nasdaq Listing Rule 5635(c)(4).

About Cytisinicline
There are approximately 25 million adults in the United States who smoke combustible cigarettes.¹ Cytisinicline is a plant-based alkaloid with a high binding affinity to the nicotinic acetylcholine receptor. It is believed to aid in treating nicotine addiction for smoking and e-cigarette cessation by interacting with nicotine receptors in the brain, reducing the severity of nicotine craving symptoms, and reducing the reward and satisfaction associated with nicotine products.

About Achieve Life Sciences, Inc.
Achieve Life Sciences, Inc. is a late-stage specialty pharmaceutical company focused on the global development and commercialization of cytisinicline as a treatment of nicotine dependence. Achieve’s New Drug Application (NDA) for cytisinicline for smoking cessation in adults is supported by two successfully completed Phase 3 studies and an open-label long-term safety study. Achieve has also completed a Phase 2 study of cytisinicline in nicotine e-cigarette cessation, conducted an end-of-Phase 2 meeting with the FDA, and has received Breakthrough Therapy designation for the vaping cessation indication.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements Achieve makes regarding the timing, nature and outcome of cytisinicline clinical development and regulatory review and approval, data results, the timing, nature and success of Achieve’s commercialization activities, the potential market size for cytisinicline, the potential benefits, efficacy, safety and tolerability of cytisinicline, the development and effectiveness of new treatments, the performance of Achieve’s third-party manufacturing partners, the successful launch and commercialization of cytisinicline, the use of proceeds from Achieve’s private placement, and statements concerning Achieve Life Sciences’ future plans and prospects. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Achieve may not actually achieve its plans or product development goals in a timely manner, if at all, or otherwise carry out its intentions or meet its expectations or projections disclosed in these forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including those described in Achieve’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Achieve undertakes no obligation to update the forward-looking statements contained herein or to reflect events or circumstances occurring after the date hereof, other than as may be required by applicable law.

Achieve Contact
Nicole Jones
VP, Strategic Communications and Stakeholder Relations
ir@achievelifesciences.com
media@achievelifesciences.com
425-686-1510

Reference
¹Agaku I. Tobacco Product Use among U.S. Adults, 2023–2024, NEJM Evidence, doi: 10.1056/EVIDpha2500339.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How do Achieve Life Sciences’ new hire inducement awards vest?

The options and RSUs vest over four years, subject to continued service through each applicable vesting date. Options vest 25% on the first anniversary following commencement of employment, with the remaining 75% vesting in 36 equal monthly installments thereafter. RSUs vest 25% on each anniversary following commencement of employment; each vested RSU represents the right to receive one common share.

What are the exercise price and term of ACHV’s new hire stock options?

The options have an exercise price equal to Achieve’s closing common share price on the applicable grant date and a ten-year term. The grants are subject to the 2024 Equity Inducement Plan and the applicable award agreements.