Adamas Announces New Employment Inducement Grant

Rhea-AI Summary

Adamas Pharmaceuticals, Inc. (Nasdaq: ADMS) announced the grant of stock options and restricted stock units to five new employees. A total of 66,000 options were granted at an exercise price of $3.46 per share, reflecting the closing price on May 7, 2020. Additionally, 33,000 restricted stock units were given, all vesting over four years. This grant is part of the Adamas Pharmaceuticals 2016 Inducement Plan, approved in March 2016, aimed at attracting new talent to the company. The company focuses on innovative therapies for neurological diseases, highlighted by their FDA-approved treatment for dyskinesia in Parkinson’s patients.

Positive

• Granting of stock options and restricted stock units may help attract and retain talent.
• The 2016 Inducement Plan supports workforce growth and company innovation.

Negative

• None.

News Market Reaction – ADMS

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-1.33% News Effect

On the day this news was published, ADMS declined 1.33%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

EMERYVILLE, Calif., May 08, 2020 (GLOBE NEWSWIRE) -- Adamas Pharmaceuticals, Inc. (Nasdaq: ADMS) today announced that the compensation committee of the company’s board of directors granted five new employees the option to purchase an aggregate of 66,000 shares of the company’s common stock, at a per share exercise price of $3.46, the closing trading price on May 7, and restricted stock units to acquire 33,000 shares of the company’s common stock. The stock options and restricted stock units vest over four years and were granted pursuant to the Adamas Pharmaceuticals, Inc. 2016 Inducement Plan, which was approved by the company's board of directors in March 2016 under Rule 5653(c)(4) of the Nasdaq Global Market for equity grants to induce new employees to enter into employment with the company.

About Adamas Pharmaceuticals, Inc. 
At Adamas, our purpose and vision are clear: deliver innovative medicines that make a clinically meaningful difference for patients, caregivers and society. We are a fully-integrated company focused on growing a portfolio of therapies to address a range of neurological diseases. In 2018, Adamas successfully launched GOCOVRI® (amantadine) extended-release capsules, the first and only FDA-approved medicine for the treatment of dyskinesia in patients with Parkinson’s disease receiving levodopa-based therapy, with or without concomitant dopaminergic medications. GOCOVRI is also the only medicine clinically proven to reduce both dyskinesia and OFF. For more information, please visit www.adamaspharma.com.

Contact:

Investors:
Peter Vozzo
Westwicke Partners
443-213-0505
peter.vozzo@westwicke.com

Media:
Sarah Mathieson
Vice President, Communications & Engagement
510-450-3528
smathieson@adamaspharma.com

 

FAQ

What stock options were granted by Adamas Pharmaceuticals on May 8, 2020?

On May 8, 2020, Adamas Pharmaceuticals granted stock options to five new employees, totaling 66,000 shares at an exercise price of $3.46 per share.

What is the significance of the Adamas Pharmaceuticals 2016 Inducement Plan?

The 2016 Inducement Plan is designed to attract new employees by offering stock options and restricted stock units, approved by the board in March 2016.

How do the stock options and restricted stock units vest?

The stock options and restricted stock units granted by Adamas Pharmaceuticals vest over four years.

What therapeutic area does Adamas Pharmaceuticals focus on?

Adamas Pharmaceuticals focuses on developing innovative medicines for neurological diseases, including their FDA-approved treatment for dyskinesia in Parkinson’s patients.