Agios Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) to Newly Appointed Chief Corporate Development & Strategy Officer

Rhea-AI Summary

Agios Pharmaceuticals (NASDAQ: AGIO) has announced inducement equity grants to its newly appointed Chief Corporate Development & Strategy Officer, Krishnan Viswanadhan. The grants, approved by the Board on March 5, 2025, include:

• A nonstatutory option to purchase 55,374 shares at $33.95 per share, vesting over four years
• 24,300 restricted stock units vesting in equal annual installments over three years
• 16,200 performance stock units tied to specific milestones

The grants were made outside the Company's 2023 Stock Incentive Plan as inducements for employment, complying with Nasdaq Listing Rule 5635(c)(4). The option price reflects AGIO's closing share price on March 5, 2025.

CAMBRIDGE, Mass., March 05, 2025 (GLOBE NEWSWIRE) -- Agios Pharmaceuticals, Inc. (Nasdaq: AGIO), a leader in cellular metabolism and pyruvate kinase (PK) activation pioneering therapies for rare diseases, today announced the grant of inducement equity awards outside of the Company’s 2023 Stock Incentive Plan to its newly appointed Chief Corporate Development & Strategy Officer, Krishnan Viswanadhan. The grants were approved by the Board of Directors effective as of March 5, 2025, as inducements material to Mr. Viswanadhan entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement grants consisted of (i) a nonstatutory option to purchase up to 55,374 shares of common stock, (ii) restricted stock units for 24,300 shares of common stock and (iii) performance stock units for 16,200 shares of common stock. The option has an exercise price of $33.95 per share, the closing price per share of the Company’s common stock, as reported by Nasdaq on March 5, 2025. The option has a ten-year term and vests over four years, with 25% of the original number of shares vesting on the first anniversary of Mr. Viswanadhan’s start date and 2.0833% of the shares underlying the options vesting monthly thereafter, subject to his continued service with the Company through the applicable vesting dates. Each restricted stock unit will entitle Mr. Viswanadhan to receive one share of the Company’s common stock for each restricted stock unit that vests. The restricted stock units will vest in equal annual installments on each anniversary of Mr. Viswanadhan’s start date, until the third anniversary of such date, subject to his continued service with the Company through the applicable vesting dates. Each performance stock unit represents a contingent right to receive one share of the Company’s common stock upon the achievement of specified performance milestones.

About Agios
Agios is the pioneering leader in PK activation and is dedicated to developing and delivering transformative therapies for patients living with rare diseases. In the U.S., Agios markets a first-in-class pyruvate kinase (PK) activator for adults with PK deficiency, the first disease-modifying therapy for this rare, lifelong, debilitating hemolytic anemia. Building on the company's deep scientific expertise in classical hematology and leadership in the field of cellular metabolism and rare hematologic diseases, Agios is advancing a robust clinical pipeline of investigational medicines with programs in alpha- and beta-thalassemia, sickle cell disease, pediatric PK deficiency, myelodysplastic syndromes (MDS)-associated anemia and phenylketonuria (PKU). In addition to its clinical pipeline, Agios is advancing a preclinical TMPRSS6 siRNA as a potential treatment for polycythemia vera. For more information, please visit the company’s website at www.agios.com.

Contacts:

Investor Contact
Chris Taylor, VP, Investor Relations and Corporate Communications
Agios Pharmaceuticals
IR@agios.com

Media Contact
Eamonn Nolan, Senior Director, Corporate Communications
Agios Pharmaceuticals
media@agios.com  

FAQ

What equity compensation package did Agios (AGIO) offer to its new Chief Corporate Development Officer in March 2025?

The package includes 55,374 stock options at $33.95/share, 24,300 restricted stock units, and 16,200 performance stock units.

What is the vesting schedule for AGIO's new executive stock options granted in March 2025?

25% vests after first year, followed by 2.0833% monthly over the next three years.

How long will it take for the restricted stock units granted to AGIO's new strategy officer to fully vest?

The RSUs vest in equal annual installments over three years from the start date.

What was the strike price for AGIO's stock options granted on March 5, 2025?

The option strike price was $33.95, matching AGIO's closing price on March 5, 2025.